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MINUTES <br />CITY COUNCIL <br />FEBRUARY 12, 1992 <br />The foregoing resolution was duly seconded by LaValle. <br />Ayes (5) Scalze, Blesener, Hanson, LaValle, Collova. <br />Nays (0). <br />Resolution declared adopted. <br />ANNOUNCE- Mayor Hanson announced that Jim Morelan has been <br />MENT offered and has accepted the position of full-time <br />Parks and Recreation Director. Morelan will assume his <br />duties on March 2, 1992 <br />COSTA Mayor Hanson opened the public hearing to consider the <br />PROPERTY abatement and reassessment of Parcels No. <br />ASSESSMENT 05-29-22-24-0037 and 05-29-22-24-0054 for Imp. No. <br />FOR IMP. 90-21, DeSoto Street. <br />NO. 90-21 <br />The City Administrator reported that there are two <br />issues for the Council to consider in this matter. The <br />first is the reassessment of the two Costa properties <br />as well as the City's property relative to a reduction <br />in assessment amount due to a decrease in easement <br />costs. That easement was initially valued at $2 per <br />square foot, however, as the result of an appraisal and <br />agreement with the Council, the easement cost has been <br />reduced to $1 per square foot. The second issue is the <br />assessment term being reduced from 10 years to 9 years <br />by abating the original assessment and relevying <br />pursuant to the previously discussed process. The <br />Administrator explained that when the developer <br />attempted to record his plat he was informed by the <br />County that all taxes and assessments payable in 1992 <br />would have to be paid. This created a cash flow <br />problem for the developer since he has not been able to <br />develop any homes on the property as yet. Therefore, <br />the reassessment term will be 9 years with the first <br />installment due in 1993. Interest has been added to <br />the first installment from the date of October 29, 1991 <br />to cover interest costs from the date of adoption of <br />the original assessment. <br />The Administrator reported that the property owners <br />have signed a waiver of right to appeal the assessment. <br />The Administrator asked Mr. Costa if he was in <br />agreement after consulting with their attorney with the <br />assessment numbers as discussed, and as presented in <br />the waiver, and if he understood the interest <br />provisions. <br />Mr. Costa replied affirmatively. <br />There was no one present wishing to comment on this <br />matter. <br />Upon motion by Blesener, seconded by LaValle, the <br />public hearing was closed. <br />Page 3 <br />