02/07/2000 Park Board Packet - Laserfiche WebLink

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• • • COUNCIL MINUTES OCTOBER 25, 1999 priority. Payment for assessments can be paid in full within 30 days. Another option is to pay the assessment over 15 years at 7% interest. The Council can extend the payment term. Staff continued stating that Ware Road is a State Aid road. Petitions against the improvements were submitted. The City was able to proceed with the project because State Aid Funds were available for the project. The City policy is to assess State Aid roads as a regular roadway. The storm sewer costs were distributed equally among residents. Many areas do not have storm sewer directly in front of their property but water does drain to a storm sewer. The assessment costs were discussed at a public hearing in 1997. The assessment amount has been consistent throughout the project. Council directed staff to provide a recommendation relating to additional notification regarding assessments. Ms. Sharon Sauka, 1011 Lantern Lane, came forward and stated she does not remember any previous petition regarding objection to the project. She stated she does not have the financial resources to pay the assessment fee. She added that the notices from the Cii come out very quickly when assessments are due. Council Member Dahl moved to close the public hearing at 7:5 ember Neal seconded the motion. Motion carried unanimously. Council asked staff to spell out the terms for a 15- and the financial impact of such a payment. Staff advised Council could extend th enod. The cost of a 15 -year pay period is approximately $300 - $350 per ye _ ., ar due in May and October of each year. It is standard for the City to assess ear t- if the assessment is not paid prior to certification. Council suggested the comfortable with a 20- to bonds. f extending the terms to 20 years. Staff advised they are However, there will be a financial impact on the City relating Council expressed concern regarding the possibility of having to extend all assessment pay periods to 20 years. Council asked staff to provide a financial analysis of the impact on the City. Council also asked for a list of other projects that have already been approved for the 15 -year pay period. This information will be presented and discussed at the next Council work session. Council Member Lyden moved to table Resolution No. 99 - 101, until the November 8, 1999, Council meeting. Council Member Bergeson seconded the motion. Motion carried unanimously. PUBLIC HEARING, Resolution No. 99 -102, Adopt Assessment Roll, 35W/TH49 Interchange Commercial Development Trunk, John Powell (3/5 Vote Required) - Upon adoption of the agenda, this item was removed. 9