Laserfiche WebLink
of that year, the next year’s interest amount is added to the balance, and all property owners that <br />are being assessed are made aware of this. The City has always followed the adopted assessment <br />policy, which is set by State Statute. <br />Rosalie Jackson is the property owner of a condominium at Canabury Square and currently has a <br />deferred HIA assessment with a 2019 balance of $17,210.97. The balance of $12,796.26 has <br />been accruing $735.78 in interest annually for the past six years since it became deferred. On <br />November 16, 2018, the 2019 interest was added to her balance. Ms. Jackson is in the process of <br />refinancing her mortgage in order to pay off her deferred assessment. She has submitted a letter <br />requesting that the Council forgive the interest for the remaining 2019 months after she pays off <br />the assessment, which if paid off in April, would be eight months at $61.31/month, for a total of <br />$490.48. <br />POSSIBLE OPTIONS: <br />1.Motion to approve the interest reduction request from Rosalie Jackson <br />2.Motion to approve the interest reduction request from Rosalie Jackson and allow the 16 <br />outstanding Canabury Square deferred HIA assessments the same interest reduction. <br />3.Motion to approve the interest reduction request from Rosalie Jackson, allow the 16 <br />outstanding Canabury Square deferred HIA assessments the same interest reduction, and <br />allow any of the owners who paid the deferred HIA assessment off in full while it was a <br />deferred assessment to seek reimbursement. <br />4.Motion to deny the interest reduction request from Rosalie Jackson and continue <br />following the current assessment policy. <br />STAFF RECOMMENDATION: <br />Due to the potential future financial liabilities for the City of Little Canada, staff recommends <br />approval of a motion to deny the interest reduction request from Rosalie Jackson and continue <br />following the current assessment policy (Option #4).