11-24-06 Council Special Minutes

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MINUTES CITY COUNCIL OCTOBER 24, 2006 collection over a ten year period at an interest rate of 6.5%. It was noted that should a property owner wish to pay off an assessment balance early, that paymenC should be made prior to November 15°i in the given year. Ou November 15`x', Che County adds the next year's interest balance to the assessment payout. The City Engineer then reviewed Che assessment roll for Improvement No. 2006-07, LaBore Road. There was no one present wishing to comment on this matter. Upon motion by Allan, seconded by Keis, the public hearing was closed. Ms. Allan introduced the following resolution and moved its adoption: RESOLUTION NO.2006-IO-245 -ADOPTING THE AS SESSMENT TOR IMPROVEMENT' NO. 2006-07, LABORE ROAD, AS PRESENTED The foregoing resolution was duly seconded by Montour. Ayes (4). Nays (0). Resolution declared adopted. IMP. NO. Mayor Blesener opened the Public Hearing to consider adoption of the 2006-03 - assessment roll for Improvement No. 2006-03, Ruth Street by street RUTH reconstruction, concrete curb and gutter, and drainage enhancements. STREET The City Engineer reviewed the project costs noting that the feasibility study estimated total project costs at $446,000.00 and estimated assessable costs at $123,616.99. Estimated actual costs for the total project are $387,000.00 and estimated actual assessable costs are $181,843.67. The Engineer reviewed the City's assessment policy, noting that residential assessments are at 85% of street reconstruction costs based on an 8"/3" urban section, 30-fooC wide road. The maximum residential street assessment rate is $54.64 per front foot. Commercial assessments are at 80% of street reconstruction costs with 100% assessment for curb and gutter. The maximum street assessment rate for commercial property is $111.40 per front foot. Storm sewer rehabilitation costs are not assessed. The City Engineer noted that the four-plexes along Ruth Street are proposed to be assessed at the co~mnercial rate as per the City's Assessment Policy.