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proceed with a distinct area known as Improvement Area #1 which is defined in the Preliminary SAP. STATUS OF ISSUE: The final step before any bonds can be issued is for Council to conduct a public hearing and to pass the attached ordinance which approves the final SAP, which, as the name implies, finalizes all the components of the Preliminary SAP including defining the annual projected costs and indebtedness for the Authorized Improvements within the PID for the 5 year period and setting out how the Assessments for the properties within the PID will be calculated and assessed. The ordinance also authorizes the Assessments on the properties within the Boundaries of the PID. The average amount of the Assessment per unit will be $2,469.63. Once the Assessment is approved, our consultants will continue on the path towards issuing bonds. Our consultants anticipate that it will take and additional 60 days or so to accomplish the bonding process. BUDGET: None. Expenses have been and will be borne by the developer and the PID. RECOMMENDATION: Conduct a public hearing as required by law and adopt the attached Ordinance approving the Forestbrook Public Improvement District No. 1 Service and Assessment Plan and authorizing the Assessment. Su Lm ested Motion Lan ua e: I move to adopt an ordinance accepting and approving service and assessment plan and assessment roll for Forestbrook Public Improvement District No. 1, levying special assessments against certain property in Improvement Area #1 of the District, and approving all other matters related thereto.