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<br />Item No: 7B. <br />Meeting Date: June 24, 2013 <br />Type of Business: Council Business <br />Administrator Review: _____ <br />City of Mounds View Staff Report <br />To: Honorable Mayor and City Council <br />From: Mark Beer, Finance Director <br />Item Title/Subject: Resolution 8114 Adopting a Special Assessment Levy for Private <br />Improvements in Area F of the Street and Utility Improvement <br />Program <br /> <br /> <br />The City offered property owners the opportunity to have private improvements completed as part of <br />the area F street project. It is in the City’s best interest to have as many of these improvements done <br />during the project to reduce the number of street openings that may have to happen in the future. <br />Each property owner has signed an agreement to waive their right to a public hearing and has agreed <br />to pay the full cost of the private improvement plus interest and the administrative fee. <br /> <br />The property owner may pay the amount due by 4:30 P.M. on Monday, June 24, 2013 in order to avoid <br />the $35.00 administrative fee. The owner may prepay the assessment between June 25, 2013 and <br />July 24, 2013 without paying additional interest. After that, interest at the rate of 5.50% will accrue <br />from June 24, 2013 through the payment date. This interest rate and administrative fee were set by <br />the City Council in Resolution 7135. <br /> <br />On or after August 1, 2013, we will forward the assessment roll to Ramsey County for collection with <br />the 2014 property taxes. <br /> <br />Respectfully submitted, <br /> <br /> <br />___________________________ <br />Mark Beer, Finance Director <br /> <br /> <br /> <br />