#07 - 15th St. N. Final Assessment Hearing

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CITY OF LAKE ELMO NOTICE OF HEARING ON PROPOSED ASSESSMENT 15th STREET NORTH IMPROVEMENTS Notice is hereby given that the City Council of Lake Elmo will conduct a public hearing on Tuesday October 1, 2024 at, or approximately after, 7:00 P.M. at Lake Elmo City Hall to consider, and possibly adopt, the proposed assessment against abutting properties for the 15th Street North Improvements. Adoption by the Council of the proposed assessment may occur at the hearing. The following describes the proposed improvements and area(s) to be assessed: Street and drainage improvements along 15th Street North that connects Inwood Avenue (CSAH 13) to the Lake Elmo-Oakdale City limits approximately 2,600 feet (0.5 miles) in length. You may at any time prior to certification of the assessment to the county auditor on November 15, 2024, pay the entire assessment on such property to the City Clerk with interest accrued to the date of payment. No interest shall be charged if the entire assessment is paid to the City Clerk prior to November 1, 2024. You may at any time thereafter, pay to the City Clerk the entire amount of the assessment remaining unpaid, with interest accrued to December 31 of the year in which such payment is made. Such payment must be made before November 15 (for the assessment to be certified to County Auditor) or interest will be charged through December 31 of the succeeding year. If you decide not to prepay the assessment before the date given above the rate of interest that will apply is 5.5 percent per year. Once assessments are certified to the County, the assessments are payable in equal annual installments extending over a period of 15 years for street and drainage improvements, the first of the installments to be payable on or before the first Monday in January 2025 and will bear interest at the rate of 5.5 percent per annum from the date of adoption of the assessment resolution. To the first installment shall be added interest on the entire assessment from the date of the assessment resolution until December 31, 2024. To each subsequent installment when due shall be added interest for one year on all unpaid installments. The proposed assessment roll is on file for public inspection at the City Clerk’s office. The total street improvement amount to be assessed is $64,400. The City contribution for the overall improvement project is $467,600. Written or oral objections will be considered at the meeting. No appeal may be taken as to the amount of an assessment unless a written objection signed by the affected property owner is filed with the municipal clerk prior to the assessment hearing or presented to the presiding officer at the hearing. The Council may upon such notice consider any objection to the amount of a proposed individual assessment at an adjourned meeting upon such further notice to the affected property owners as it deems advisable.