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City Council Minutes <br />June 24, 1998 <br />• Page 2 ~ ~ ~j. <br />POLICY AGENDA <br />CONSIDERATION OF RESOLUTION 98-15, ADOPTING THE 1998 HOYT AVENUE <br />PROJECT ASSESSMENT ROLL <br />Engineer Maurer explained that passage of the proposed resolution was the final action <br />necessary to complete the special assessment process for this project. <br />Mayor Gehrz noted that the University of Minnesota was not proposed to be assessed <br />for street reconstruction since the city's policy is to assess corner lot properties for only <br />one reconstruction. Gehrz proposed that the assessment policy be clarified to require <br />assessment for all sides of a corner lot property when the property is owned by a tax- <br />exempt entity. The rationale for this is that tax exempt properties should pay the full <br />cost of public improvements rather than being subsidized by taxpaying properties. <br />Engineer Maurer explained that the University could be assessed for the road work <br />through a separate process. <br />Councilmember Jacobs asked for clarification as to the due date for pre-paying special <br />assessments. Administrative Assistant Asleson answered that property owners have 30 <br />days, or until the end of the business day on July 24, 1998, to pre-pay their assessment <br />• without interest. <br />Councilmember Jacobs then inquired as to why the city allows 30 days for pre-payment. <br />Engineer Maurer replied that the city could allow a longer pre-payment period if it wished <br />but that standard practice through past assessments has been 30 days. The council <br />discussed the merits of allowing a longer pre-payment period for future assessments, but <br />decided to keep the pre-payment period at 30 days for this assessment project. <br />Councilmember Jacobs moved approval of Resolution 98-15, adopting the 1998 Hoyt <br />Avenue assessment roll. The motion passed unanimously. <br />REPORT ON THE 1997 AUDIT (COMPREHENSIVE ANNUAL FINANCIAL REPORT) <br />Ms. Jennifer Thiennes from the auditing firm of Kern, DeWenter, Viere, Ltd., presented <br />the council with the 1997 annual financial report and related audit. <br />ADJOURNMENT <br />The meeting adjourned at 8:17 p.m. <br />• <br />Carla Asleson <br />Recording Secretary <br />Susan L. Gerhz, Mayor <br />