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RESOLUTION NO.2006-I-4 -ORDERING IMPROVEMENT NO. <br />2006-03, RUTH STREET, AS WELL AS THE PREPARATION OF <br />PLANS AND SPECIFICATIONS <br />The foregoing resolution was duly seconded by Allan. <br />Ayes (5). <br />Nays (0). Resolution declared adopted. <br />IMP. Mayor Blesener opened the Improvement Hearing for LaBore Road <br />HEARING- from Centerville Road to Desoto Street by mill and overlay of <br />LABORE bituminous surface. <br />ROAD <br />The City Engineer reviewed the Project History reporting that under the <br />pavement management rating system, this section of LaBore Road rates 60 <br />points out of a possible 100. The street is currently a 32 foot wide, urban <br />section road within a 60-fooC right-of-way. There is existing water main <br />and sanitary sewer along the length of the road. <br />The Engineer reported that this section of LaBore Road is proposed for a <br />mill and overlay. There may also be some minor curb and sidewalk <br />replacement necessary. <br />The Engineer then explained the City's assessment policy, noting that the <br />cost of a mill and overlay is assessed at 50% of the project costs excluding <br />storm sewer repairs. The assessment is based on the actual front footage <br />of the abutting property. The Engineer then reviewed the proposed project <br />schedule. <br />The Engineer reviewed the preliminary assessment roll for the project, <br />noting that once the project is completed, there will be an assessment <br />hearing held in the fall. At that time, assessment issues will be reviewed <br />and the final assessment roll adopted. Once adopted, property owners will <br />have 30 days to pay their assessment to Che City with no interest. If not <br />paid, the assessment will be cerCified Co Ramsey County for collection <br />with property taxes. The assessment will be spread over aten-year period <br />at an estimated interesC rate of 6.5%. ProperCy owners have the abiliCy Co <br />pay their assessment in full anytime during Che Cen-year collection period. <br />If paying the assessment in full, payment should be made prior to <br />November 15`h of any given year, otherwise the County will add the <br />subsequent year's interesC to the pay-off balance. There are also options <br />for deferment of assessments for senior citizens and the disabled, based on <br />income levels. If deferred, interest would continue to accrue on the <br />assessment balance. <br />15 <br />