10-10-2022 Assessment Hearing Minutes (Yorkton Ridge-Maple Ln-Jackson)

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MINUTES CITY COUNCIL SPECIAL MEETING (ASSESSMENT HEARING) OCTOBER 10, 2022 Nydegger stated he thought interest rates would be about 3.0% or 2.8%. The City Administrator stated that if the city were to sell bonds today, the rate for the City would be almost 4%. Leng Yang, 170 Yorkton Ridge, stated he previously lived in California, and asked where the property tax money goes to, and asked why the property owner is paying for the street project when the roads are owned by the public. The City Administrator explained that 50% of the street costs are paid by property taxes, but the other 50% is paid by the adjacent property owners that are directly benef tting. He stated that is the most common way to pay for street improvements. There were two attendees. There were no further comments from the general public. Upon motion by Fischer, seconded by McGraw, the assessment hearing was closed. Fischer introduced the following resolution and moved its adoption: RESOL UTION NO. 2022-10-109 — APPRO VE ADOPTING THE ASSESSMENT ROLL FOR IMPROVEMENT NO. 2022-02, YORKTONRIDGE (FROM CONDIT STREET TO END OF CUL-DE-SAC) AS RECOMMENDED BY CITY ENGINEER, AND SETTING THE INTEREST RA TE A T 5.0 % The foregoing resolution was duly seconded by McGraw. Ayes (5). Nays (0). Resolution declared adopted. Fischer introduced the following resolution and moved its adoption: RESOL UTION NO. 2022-10-110 — APPRO VE ADOPTING THE ASSESSMENT ROLL FOR IMPROVEMENT NO. 2022-03, MAPLE LANE & JACKSON STREET (FROMEND OF THE CUL DE -SAC TO LA B ORE A VENUE) AS RECOMMENDED BY CITY ENGINEER, AND SETTING THE INTEREST RATE AT S. 0% The foregoing resolution was duly seconded by Keis. Ayes (5). Nays (0). Resolution declared adopted. There being no further business, the meeting was adjourned at 6:33 p.m. o T. eis, Mayor A t. a 'stoph r Heinema City Administrator 2