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<br /> MINUTES <br /> CITY COUNCIL <br /> JUNE 21, 2010 <br /> a. Death of the owner (provided that surviving spouse, if any, <br /> is not eligible for deferment); <br /> b. Sale, transfer, or subdivision of the subject property; <br /> c. Loss of homestead status of subject property; <br /> d. Change of circumstances of owner resulting in there no <br /> longer being a hardship. <br /> The City Administrator reported that there were three HIA fee deferments <br /> for Fleur Royale axed Canabury Condominium HIA projects. These <br /> deferments are subject to being fully due and payable upon the above <br /> conditions. The Administrator recommended the same for the Canabury <br /> Squa~•e HIA fees, but noted that given these deferments are not supporting <br /> the Canabury Square bond financing, the City would have the option to <br /> consider requests by new property owners to certify the HIA fees for <br /> collection with property taxes, spread for a number of years as determined <br /> by the Council. <br /> The City Administrator noted that one Canabury Square unit recently sold <br /> with a deferred assessment, and that sale went through without collection <br /> of the I-IIA fee. The property owner is requesting that the HIA fee be <br /> spread to property taxes for 14 years (the remainder of the term on the <br /> other Canabury Square HIA fees). All other sales of units with defen•ed <br /> HIA fees would be payable upon one of the triggering events. <br /> McGraw as]<ed how the City can ensure that other deferred I~IIA fees are <br /> collected for payment when one of the triggering events occurs. "hhe City <br /> Administrator indicated that when title work is done in preparation for the <br /> sale of a unit, the title company should pick up the deferred HIA fee and <br /> the fact that the fee must be paid. If not, the seller and/or buyer would <br /> have recourse against the title company. <br /> Mr. Keis introduced the following resolution and moved its adoption: <br /> RESOLUTION NO. 2010-6-157 -APPROVING THE RE- <br /> CERTIFICATION OFDEFERRED HIA FEE FOR THE <br /> FOLLOWING: <br /> PROPERTY ID NO. 07-29-22-13-0179 <br /> ADDRESS - 732 Demont Avenue Enst, Unit 734 <br /> COUNTYNO. - 53200907 <br /> HIA FEEAMOUNT- $24,157.47 <br /> INTEREST RATE - 5.75 <br /> TERM-79 YEARS -Beginning 2071 <br /> 5 <br /> <br />