1988-002 Council Resolution - Laserfiche WebLink

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The property owner w i 1 I have the option of paying the above costs or having the cost assessed over a 15 -year period. The Building Official will obtain a signed petition requesting the assessment, and the Engineer will compute the cost based on the legal description and the above stated policy, and the City Clerk will maintain a petition file. An assessment roll will be prepared in August of each year and submitted to the City Council. A public hearing will -be held in September and the assessment roll submitted to Anoka County in October. The City Clerk and Engineer shall maintain records showing areas that have been assessed. 3. INTEREST RATE The interest rate to be used for special assessments will be 2% above the rate that the City pays on long -term improvement bonds. This -rate shall be determined by the City's f iscal' consultant. 4. BASIC ASSESSMENT DATA REQUIRED FOR EACH PARCEL Area (used for storm sewer and area -wide assessments) Area used is the gross area each separate improvement. of the parcel as it is benefltted by All ;property: within "district boundaries is to be included. District boundaries are determined by the City Engineer. r.operty wi l I, be assessed. Permanent ponding outlets and street' right-of-way shall be exempt: See Group 1, Example 1. Adjusted Front Footage (used for al l improvements except storm sewer) In the adJusted front footage method, odd - shaped lots are adjusted to an average frontage that would be equivalent to the frontage of a rectangularly shaped lot of the same area and depth. 5. ADJUSTED FRONT FOOTAGE COMPUTATION PROCEDURE A. Odd- Shaped Lots (A) For odd- shaped lots, such as exist on culs -de -sac or triangular intersections, etc., the adjusted front footage is computed by dividing the area of the lot, up to a maximum distance of 150 feet from the street where the improvement is to be installed, by 150 (or the average depth if less than 150 feet). 1 -11 -88 -11- 7777 -007