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Item No: 7.B. Meeting Date: October 13, 2008 Type of Business: Council Business Reviewed by City Administrator: ________ City of Mounds View Staff Report To: Honorable Mayor and City Council From: Mark Beer, Finance Director Item Title/Subject: Public Hearing to receive Public Input and pass upon Resolution 7342 Adopting a Reassessment of Previously Assessed Properties for the H2 and 2003 Street and Utility Improvement Projects A public hearing is scheduled for 7:10 P.M. to receive public input regarding the proposed reassessment of the H2 and 2003 Street and Utility Improvement Projects. A legal notice of this public hearing was published in the September 24, 2008 edition of the New Brighton-Mounds View Bulletin. Individual notices of the meeting were sent by first class mail to the affected property owners on September 26, 2008. Attached is the full roll of reassessment notices that were sent out. The City Council consulted the City Attorney and has been advised that reassessment is only appropriate for active assessment projects pursuant to §429.071 subd. 2. As a result of changes to the City’s Street and Utility Improvement Program, the City Council has determined that reassessment of the H2 and 2003 Street and Utility Improvement Projects meet the requirements set forth in §429.071. The H2 project area will have their assessments reduced by 50% of the original amount. The 2003 project area will have their assessments reduced by 60% of the original amount. Those property owners that chose the payment plan will have the remaining assessment amounts removed from the tax rolls for 2009 and forward, there is nothing further they need to do. Those property owners that paid in full will receive a refund and should submit their refund request to the City by March 13, 2009. A refund request was included with the public hearing notice and the first refunds would be processed with Just and Correct Claims on October 27th. The City Council would need to increase the budget in the Street Improvement Capital Project fund account 285- 4470-3810. The maximum expected refunds are $120,067. Respectfully submitted, ___________________________ Mark Beer