Agenda Packets - 2014/08/25 - Laserfiche WebLink

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Item No: 7.C. Meeting Date: August 25, 2014 Type of Business: Council Business Administrator Review: _____ City of Mounds View Staff Report To: Honorable Mayor and City Council From: Mark Beer, Finance Director Item Title/Subject: Resolution 8291 Adopting a Special Assessment Levy for Private Improvements in Area G of the Street and Utility Improvement Program The City offered property owners the opportunity to have private improvements completed as part of the area F street project. It is in the City’s best interest to have as many of these improvements done during the project to reduce the number of street openings that may have to happen in the future. Each property owner has signed an agreement to waive their right to a public hearing and has agreed to pay the full cost of the private improvement plus interest and the administrative fee. The property owner may pay the amount due by 4:30 P.M. on Monday, August 25, 2014 in order to avoid the $35.00 administrative fee. The owner may prepay the assessment between August 26, 2014 and September 25, 2014 without paying additional interest. After that, interest at the rate of 5.50% will accrue from August 25, 2014 through the payment date. This interest rate and administrative fee were set by the City Council in Resolution 7135. On or after September 30, 2014, we will forward the assessment roll to Ramsey County for collection with the 2015 property taxes. Respectfully submitted, ___________________________ Mark Beer, Finance Director