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CITY OF LAKE ELMO WASHINGTON COUNTY STATE OF MINNESOTA RESOLUTION 2023-090 A RESOLUTION GRANTING ASSESSMENT DEFERRAL FOR HARDSHIP TO ELIGIBLE PROPERTIES WHEREAS, the City approved the Final Assessment Roll for Old Village Phase 5 & 6 Street and Utility Improvements on October 19, 2021; and WHEREAS, under the City of Lake Elmo Special Assessment Policies and Procedures for Public Improvements, certain assessments are eligible for deferral under certain circumstances; and WHEREAS, the City Council will consider deferment for the payment of special assessments on any homestead property, owned by a person 65 years of age or older, or retired by virtue of permanent and total disability. A hardship may be deemed to exist when the annual principal installment of all assessments levied against the property exceeds two percent (2%) of the adjusted gross income of the applicant as evidenced by the applicant's most recent federal income tax return, and total assets (excluding the homestead property) do not exceed six times the adjusted gross income; and WHEREAS, the City Council may also determine, on a case by case basis, the existence of a hardship on the basis of exceptional and unusual circumstances not covered by these standards and guidelines, if done in a non-discriminatory manner and without giving the applicant an unreasonable preference or advantage over other property owners; and WHEREAS, during the period of deferral, interest shall be applied annually to the unpaid principal balance at the rate established on the original special assessment, or as adopted by resolution of the City Council at the time the original assessment is adopted; and WHEREAS, the deferment shall terminate and all principle and interest becomes due and payable upon the occurrence of any of the following events: (1) The death of the owner when there is no spouse whom is eligible for deferment, (2) The sale, transfer or subdivision of the property or any part thereof, (3) The property should lose its homestead status, (4) The City Council should determine that the hardship no longer exists. A review of the hardship will be conducted every three to five years; and WHEREAS, the City has received application for deferral from certain property owners claiming eligibility for deferral under the 65 years of age or older provision of the policy. City Staff has reviewed the application, bank statements, and tax returns and found that the applicant does meet the criteria for deferral according to the policy. Resolution 2023-090