(A) The Council shall annually assess a benefit fee against each non-excluded parcel in the improvement district, in accordance with the business improvement district plan and the improvement district management committee's (the "management committee") annual recommendation.
(B) The benefit fees shall be held and invested in a City of Albuquerque Trust and Agency Account, for the benefit of the improvement district.
(C) The benefit fees shall be disbursed annually to the management committee.
(D) Benefit fees shall be due and payable in full within 30 days of the mailing of the benefit fee assessment; thereafter, any such payments shall be deemed delinquent.
(E) Assessed property owners shall pay at least 25% of the assessed benefit fee; the amount of the assessed benefit fee paid by a commercial tenant shall be proportional to the square footage of space that the tenant rents but shall not be more than 75% of the assessed amount.
(F) A penalty of 10% of the benefit fee or $10, whichever is greater, plus interest at the rate of 10% per annum, shall be charged on delinquent payments.
(G) Within 60 days after the publication of the assessment roll for the improvement district, the municipal clerk shall prepare, sign, attest with the municipal seal and record in the office of the county clerk a claim of lien for any unpaid amount due and assessed against a non-excluded parcel.
(H) The City of Albuquerque shall recover any expenses incurred for the assessment, collection and administration of the fee.
(Ord. 38-2000)