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MINUTES <br />CITY COUNCIL <br />OCTOBER 12, 1993 <br />pointed out that total project costs had been estimated <br />at $485,127, of which $312,703 was to be assessed, and <br />$172,424 were City costs. Final costs are $371,540, of <br />which $253,828.65 are to be assessed and $117,711.35 <br />are City costs. <br />The City Administrator pointed out that at the <br />assessment hearing it was decided to assess the cost of <br />this improvement on a 50% front footage basis, and a <br />50% per lot basis. Given this decision the assessment <br />rate is proposed at $1,448.94 per lot and $15.12 per <br />front foot. There is also a$75 service connection <br />charge for those property owners which had copper line <br />in their yards and had the contractor hook up this line <br />to the new water main. <br />The City Administrator then reviewed the water permit <br />fees, apologizing for the fact that at the earlier <br />neighborhood meetings he did not inform the residents <br />about the City's $300 water Availability Charge. In <br />the past the City had assessed this charge. However, <br />the Administrator reported that this is a user fee <br />which should not be assessed due to the benefits <br />received issue. The Administrator reported that the <br />$300 wAC is applied to the debt service on the 1978 <br />bond issue. That bond issue is for the City's water <br />tower, booster station, and trunk services. <br />The Administrator reported that there is a senior <br />citizen deferral option for property owners 65 years of <br />age or older who meet certain income guidelines. <br />Qualifying seniors can have their assessment deferred, <br />with interest accruing, until such time as they sell <br />the property, lose their homestead credit, or pass on. <br />Forms for this deferral are available at the City <br />Center. <br />The Administrator also reported that due to the width <br />of some properties as well as location of the house, <br />there is the possibility that a lot could be <br />subdivided. Property owners with lots that could be <br />subdivided are being assessed for a second lot. The <br />Administrator reported that these property owners would <br />also be eligible for a development deferral which would <br />allow the assessment for the second lot to be deferred <br />with interest until the lot is subdivided. <br />The Administrator reported that property assessments <br />are typically not tax deductible since the IRS views <br />them as an improvement to the property. The <br />Administrator urged residents to check with their tax <br />advisors on this issue. <br />Page 15 <br />