10-23-90 Council Special Minutes

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MINUTES CITY COUNCIL OCTOBER 23, 1990 contracts for the improvement have come in lower than estimated. Blesener asked the City Engineer what he would consider a reasonable assessment for a project like this. The City Engineer replied that a typical assessment for a similar project would be $10,000 to $12,000 per lot. However, in this project there is 350 feet of additional street which could not be assessed and the cost of which had to be spread over the 19 lots. Blesener pointed out that this is one of the reasons that TIF was used for this project. Blesener stated that he agreed with Boosalis and would support the $11,634 per lot assessment. Collova asked what the City~s options were for the surplus should it not be applied back against the project. The City Administrator replied that the TIF surplus could be pooled and used in other districts in the City. Fahey pointed out that there will be no more TIF generated, and this surplus will be all the City has for assistance for future projects. Scalze stated that the property owners could argue that they should not have to pay more in order that another district in the City can receive TIF assistance in the future. The City Administrator pointed out that the appraisal of the property supports the $13,000 assessment. Also the development agreement states that assessments will not exceed $13,000 per lot exclusive of the trunk storm sewer costs. The Administrator pointed out that the trunk storm sewer costs have not been assessed, but are being picked up by TIF surpluses. Blesener pointed out that most of the storm sewer projects which the City has done have not been assessed. Fahey pointed out that the $10,000 to $11,000 assessment originally discussed could have been increased by trunk storm sewer costs. Boosalis pointed out that he could make the argument for applying all the TIF surplus to reduce project Page 3