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<br />Item No: 7.D. <br />Meeting Date: September 28, 2009 <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 7493 Adopting a Special Assessment Levy for Private <br />Improvements in Area A 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 A 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 /> <br />The property owner may pay the amount due by 4:30 P.M. on Monday, September 28, 2009 in order <br />to avoid the $35.00 administrative fee. The owner may prepay the assessment between September <br />29, 2009 and October 28, 2009 without paying additional interest. After that, interest at the rate of <br />5.50% will accrue from September 28, 2009 through the payment date. This interest rate and <br />administrative fee were set by the City Council in Resolution 7135. <br /> <br />On or after October 28, 2009, we will forward the assessment roll to Ramsey County for collection with <br />the 2010 property taxes. <br /> <br /> <br />Respectfully submitted, <br /> <br /> <br />___________________________ <br />Mark Beer <br /> <br /> <br /> <br />