Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-02-21
ANNEXATION PLAN.
oUlTEAN ELABORATE ONE ADOPTED
BY LEE DISTRICT COMMITTEE.
An Array Of Figurss-IntlmatiOn that If
Not Taken In a Town viii soon
be Formed.

The Committee OF Nine appointed at
recent meeting of the property-owners Of
Lee district to take into consideration
what would be practical and far terms on
which TO enter the city and to report a
plan by which the same might be carried
into effect held a meeting in the rooms of
the Bar Association yesterday afternoon
at 4:SO o'clock.
Mr.. Jackson Guy acted as chairman.
The subcommittee, consisting OF Messrs.
Dooley Guy, and Courtney, appointed to
prepare plan setting forth the terms on
which Lee district should be annexed 70
the city, submitted the subjoined report,
which was unanimously adopted.
THE RKPoRT IN FULL.
The report, which is addressed to Cap
tain John A. Coke, who presided at the
property owners meeting. reads:
Captain John Il. Coke. Chairman:
The committee appointed to set forth
the terms on which Lee district should be
annexed report as follows:
Lee district Is a tract Of land on tho western
suburbs Of Richmond extending from Broad
street On the north 70 Ashland street on the
south, aud from the corporation line on tho east
70 tho Boulevard on the vest
1t contains about ono square mile Of territory,
about 2.e00 Inhabitants, and tue assessed value
OF is real estate Is tl,15OO0l The actual or
selling value Is sbouItEice as mnch or ~ 5o9O.uVO
By the terms OF the charter Richmond y au-
thorized 70 Issue bonds 70 the amount OF * per
cent OF the nssessed value Of its real estate.
II Leo district were added 70 the city sne could
issue additional bonds 20 tho amount OF t3l5,VOO
as soon as the corporate limits were e4tonoed;
As has been said the actual value OF real
estate 10 the district Is $500 000- IL were as
sessed by the city assessors IL would undoubted-
ly be assessed st its full value.
BY Tho year 1895, II taken into the CITY under
fair terms and given the advantages OF streets
gas, water, and culyeTts, its assessed value viii
not be less than s70O00 900, because In addition TO
the increase OF value In lots, Which ought 20 %
nearly 100 per cent, there would De a very large
Increase Ia tho number OF residences, etores,
and other Improvements.
SO that In the year 1895, whom the new assess
mont Of 1898 wilt 90 into force, the city could
issue bonds 70 the amount OF Is per cent on
S7OOOOOO or 81. 10000, Of course, Including the
S3l5oOO issued on the assessment Oh IosO'
TIE PLAN PROPOSED.
We propose then as n basis upon which Lee
district may be Incorporated Into the city OF
Richmond that the city should agree
First That she Will permit 20 the district ac-
cOrdingly as required, culverts, water, and gas,
from All OF which she derives q revenue bY spe-
cisl taxation.
second. That for street improvements, such as
grading grsYelling. ourbing. and guttering tho
city shall contract 70 issue and sell annually fsO,
OO0 city bonds, bearing interest at the rate Of
per ceut. per annum, and spply the proceeds OF
the sale OF said bonds ~ the street improve
ments above mentioned, and that tho contract
shall extend over a period OF at least ten years.
The committee are OF the opinion that this
can be done without entailing any appreciAble
burden upOu the city OF Richmond. They are OF
opinion that the revenue to be derived from
taxes in the district viii far more than compen-
sste for the expenditures.
THE TAX INCOME.
At tho present rate Of taxation Hl.40 on tho
g19O the real estate tax on the present ASSESS
mont Of 81, 10000 will be s24,500 per annum.
The personal tax and license tax ought 10 be
al least IS per cent. of the above, or 1855. In
Richmond they are about 20 per cent the tax on
the realty.
We will make our figures commencing with
the year 1902 as the district could not be brought
In and taxes assessed and collected for the city
before that year.
II our plan we're adopted the figures would be
as follows:
1892 Rey. from really, S2i,5O0 Int on bonds
Rev. from persnlty, 1915 3SSOOO at per
$751; $500
isa3. Rev. from persnlty, S2s,i75 100000 400
1894 Rev, from persn'lty, 2S,i75 10000 $500
1895. Rev. from persn'lty, S,H5 3SOOOO 1850
For four years .., S1l2,7O0 $4,000
Showing a surplus for tho FIRST four years Of
Sl77 200. For the next six years We would figure
on tho assessment OF ls9j-say $1,000 900 for real
" and IS per cent. Of the assessed value OF the
realty for personal taxes and licenses
Tbe revenue would be $40 on 100000, feS,0O)
IS per cent for. personal and license
a1es................ 4htVO