03-30-09 HIA Agenda - Laserfiche WebLink

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CITY OF LITTLE CANADA NOTICE Or PUBLIC HEARING Notice is hereby given that the Little Canada City Council will meet at 6:00 p.m. on Monday, March 30, 2009 in the Council Chambers of the City Center located at 515 Little Canada Road to consider the proposed improvement fees to be imposed and collected for improvements and repairs to Fleur Royale Condominium Association housing units within the Housing Improvement Area (HIA) pursuant to Minn. Statutes ' 428A.11 through ' 428A.21. The properties proposed to be subject to the improvement fees are the housing units located within the Fleur Royale Condominium Housing Improvement Area and are legally described as: Apartment Ownership No. 079 Fleur Royale Condominiums, Units 101 through 339 All interested persons will be given an opportunity to be heard at the public hearing on the proposed fees and written comments will be considered. The estimated cost of such improvements, including administrative fees is $525,374. The amount to be charged against each housing unit is based upon a percentage of ownership of Fleur Royale Condominiums ($480,000) plus the estimated costs of improvements to individual units ($45,374) that will be added to that unit's fee total. A schedule of the proposed fees for each wait is included with this notice and a copy of same is also available for review without cost at City Hall or can be mailed or e-mailed by request. Staff recommends the fees be payable over 10 years. The interest rate to be charged will be determined at the time of the bond sale. Fees may be paid in part (at least 25%) or in full, without interest accrual, within 30 days of the City Council's resolution adopting and imposing the fees. After the initial 30-day period, all remaining principal and unpaid interest accruing from the date of the adoption of the fee resolution will be certified to Ramsey County for collection beginning with the following year's property taxes. No prepayment of fees will be allowed after the initial 30-day period. The effective date of the resolution imposing the fees will be 45 days after adoption by the City Council. If the owners of 35% or more of the residential housing units' tax capacity that are subject to a fee file written objections with the City Clerk within 45 days after the adoption of the resolution imposing the fee, the resolution will become null and void. If the resolution is adopted on March 30, 2009, then any fee payment made would need to occur by no later than Apri129, 2009 to avoid interest. The veto period will run until May 14, 2009. If the resolution is vetoed, any payment will be refunded within ten (10) day of the veto certification. A valid petition signed by more than 25% of the owners of the housing units subject to the proposed fees is on file with the City. If you would like a detailed explanation as to how the fee was calculated, you can the City Administrator at 651-766-4040.