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MINUTES <br />IMPROVEMENT HEARINGS <br />OCTOBER 17, 2017 <br />written objection will preserve the property owners right to contest the <br />assessment in District Court. <br />There were two attendees, and no comments from the general public. <br />Upon motion by Keis, seconded by Montour, the assessment hearing was <br />closed. <br />Montour introduced the following resolution and moved its adoption: <br />RESOLUTION NO. 2017-10-190 —ADOPTING THE ASSESSMENT <br />ROLL FOR IMPROVEMENT NO. 2017-02, LABORE AVENUE <br />(JACKSON STREET TO WEST END OF CUL -DE -SA Q <br />CONSISTING OF RECONSTR UCTIONAS RECOMMENDED BY <br />CITY STAFF. <br />The foregoing resolution was duly seconded by Fischer. <br />Ayes (5). <br />Nays (0). Resolution declared adopted. <br />IMPROVEMENT <br />Mayor Keis opened the Assessment Hearing to consider the adoption of <br />NO. 2017-03 <br />special assessments for Improvement No. 2017-03, Rose Place (Jackson <br />ROSE PLACE & <br />Street to Lakeshore Avenue) and Lakeshore Avenue (from Lake Street, <br />LAKEESHORE <br />north to the cul-de-sac) consisting of reconstruction. <br />AVENUE <br />The City Engineer reviewed project costs, noting that the initial estimate <br />was $490,000.00 with the final estimated cost at $475,000.00. He noted <br />that since it was a full reconstruction project, the assessment amounts are <br />capped. He explained that the assessments did increase about $64 from <br />the preliminary amount due to two properties being removed from the <br />assessment role and their amount being redistributed among the remaining <br />properties. He then reviewed assessment payment methods which provide <br />for payment (either in full or part) with no interest within the first 30 days <br />after the assessment is adopted, or allowing the assessment to be certified <br />against property taxes for collection over a 10 year period at an interest <br />rate of 4.0%. The Engineer noted that after certification assessments can <br />be paid off early to the County at any time. He suggested, however, that <br />payments should be made prior to November 15th in the given year or the <br />County will add the next year's interest to the balance. <br />The City Engineer then reviewed the assessment roll as well as a sample <br />amortization schedule for an assessment that would be certified for <br />collection with property taxes. <br />11 <br />