07-13-2016 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL JULY 13, 2016 Upon motion by McGraw, seconded by Montour, the public hearing was closed. Keis introduced the following resolution and moved its adoption: RESOLUTION 2016-7-116 - APPROVING THE VACATION OF THE WESTERLY 11 FEET OF COUNTRYDRIVE LYING BETWEEN THE EASTERLY EXTENSION OF THE NOR THERLYAAD SO UTHERL Y LINES OF LOT 1, BLOCK I, COUNTRYSIDE TERRACE CONDITIONED ON MR. BIAGINI DEEDING BACK THE EASTERLY 11 FEET TO THE CITY. The foregoing resolution was duly seconded by McGraw. Aye (5). Nays (0). Resolution declared adopted. CONSENT Montour introduced the following resolution and moved its adoption: AGENDA RESOL UTION NO. 2016-7-117 —APPROVING THE CONSENT AGENDA WHICH CONTAINS THE FOLLOWING: *APPROVAL OF THE VOUCHERS *APPOINT ELECTION JUDGES FOR THE PRIMARY ELECTION ONAUGUST 9, 2016 *REAPPORTIONASSESSMENT #S-532013030 *APPROVE PARKING LOT STRIPING *APPROVE STREET SEAL COATING *APPROVE PARTIAL PAYMENT NO. 3 TO HARDRIVES FOR THE 2015 STREETAND UTILITYPROJECT The foregoing resolution was duly seconded by Fischer. Ayes (5). Nays (0). Resolution declared adopted. AMEND THE The City Administrator stated that in 2009 when the housing improvement CANABURY area project was approved at Canabury Square, the assessments financed SQUARE HIA with the taxable bond issue were not allowed to be paid off early given the ASSESSMENT City cannot earn enough interest on the payoff amount to equal the rate the PAYOFF POLICY City is paying on the bonds. He explained that recently the Council approved a request to allow an early assessment payoff whereby the owner would be required to pay all of the principal and interest due over the remaining term of the assessment, less a 0.5% discount factor. He stated that given the Council approved this request, the City should be willing to do this for other property owners in order to be consistent. The City Administrator stated that Staff recommends formalizing a policy for this