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515 Little Canada Road, Little Canada, MN 551173600 <br />(651) 766 -4029 / FAX: (651) 766 -4048 <br />www.cilittle-canada.run.us <br />MEMORANDUM <br />TO: Mayor Blesener and Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATE: September 17, 2013 <br />RE: <br />Application Requesting Assessment Deferral <br />Canabury Square HIA <br />132 Demont Avenue, Unit 224 <br />MAYOR <br />Bill Blesener <br />COUNCIL <br />Rick Montour <br />John Reis <br />Michael McGraw <br />Shelly Boss <br />ADMINISTRATOR <br />Joel R. Hanson <br />The City has received an application requesting the deferral of the Canabury Square HIA <br />assessment that was certified for the above unit. The individual making this request has lost her <br />job and is having financial difficulty in making the assessment payments. This individual <br />submitted a copy of her 2012 Tax Return which shows that she is below the HUD income limits. <br />Attached is a copy of the County's amortization schedule for this assessment. At the end of 2013 <br />there will be an assessment balance of just under $13,000. If the Council is agreeable to <br />deferring this levied assessment, that balance would accrue interest at the rate of 5.75% until <br />such time as: <br />1. Death of owner; <br />2. Sale, transfer or subdivision of subject property; <br />3. Loss of homestead status; <br />4. Change of circumstances of owner resulting in there no longer being a hardship. <br />