The city of Granite Shoals has collected a little more than 10 percent of assessment fees and street liens owed since the 1980s.
City Manager Jeff Looney told the City Council during its March 9 meeting that $46,869.67 has been collected out of $400,000 owed.
The city mailed about 1,200 letters to residents who owed assessment fees to the Sherwood Shores Trust Fund and to property owners who have street liens.
“It’s always important,” Looney said of collecting the money. “When you have roughly $400,000 sitting out there, any of those that will be paid off, all of that money benefits the citizens of Granite Shoals. It goes in the coffer of the streets. It’s one of the biggest takeaways of it all.”
The Sherwood Shores Trust Fund was started by developers in the 1960s during the creation of Sherwood Shores, which is now part of the city. The purpose of the fund was to collect $10 annually from those affected residents with the monies going toward streets and parks.
Of the 1,061 letters sent regarding the trust fund, 54 responded and paid a total of $3,003. The remaining balance owed is $136,793.23 as of March 8.
Of the 146 letters sent regarding street liens, 35 responded and paid a total of $43,866.67 as of March 8. The remaining balance is $175,566.08.
Looney already designated how the collected money will be spent.
“The promise has always been that money goes into the streets,” he said. “I want that money to go to true street paving. If I can add money to it, that really helps.”
The city has 90 miles of streets, and Looney would like to add drainage and culverts. Currently, $250,000 is in the streets account for paving without adding the Sherwood Shores Trust Fund or the street liens collections to it.