Agenda Packets - 2005/04/25 - Laserfiche WebLink

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Mounds View City Council March 28, 2005 Regular Meeting Page 14 supports this application. 1 2 MOTION/SECOND. Gunn/Thomas. To waive the reading and to approve Resolution 6482, 3 Conditional Use Permit for an Oversized Garage at 5343 Clifton Drive. 4 5 Ayes-5 Nays-0 Motion carried. 6 7 8 D. 7:20 p.m. Public Hearing to consider Resolution 6487 to adopt the proposed 9 assessment for the Hidden Hollow project. 10 11 Public Works Director Lee stated that the Hidden Hollow project is nearing completion, and 12 there are a few punch list items that need to be completed, as well as putting bituminous on 13 the streets. He stated the proposal is to assess one property owner $395,596.63, and the 14 property owner, Pro Craft Homes, has subdivided the property into 17 lots, so the assessment 15 would be divided equally among those lots, which would be $23,270.39 per lot. He stated that 16 staff recommends approval of the assessment roll for the Hidden Hollow project. 17 18 Mayor Marty opened the public hearing. 19 20 Gary Nordness thanked the Council and staff for their support of this project, and he stated that 21 they accept the assessment. He stated he had talked about a 4 percent interest rate charge instead 22 of 5 ½, so that was the only question he had. He stated it was his understanding the payment 23 would be deferred until 2006, but he asked the Council to take into consideration when that 24 payment is due and when the interest begins. He stated that the home prices are between 25 $400,000-$500,000, and that increased the tax base considerably. 26 27 Finance Director Hanson stated that the 4 percent was specific to the installment purchase price 28 of the land, and that is what was charged. He stated that although the assessment is set up as a 29 ten-year assessment, as they close on the houses, they would be paying off the assessment, so it 30 wouldn’t be out there for ten years. He stated that the assessment would only exist for a few 31 months, and up to two years. 32 33 Mr. Nordness stated that they anticipated paying off six lots prior to the October 25th deadline. 34 35 Finance Director Hanson stated that interest would accrue on the remainder. 36 37 Mr. Nordness stated he thought interest would accrue until it was assessed, and he thought 38 Finance Director Hanson had said it would be put on the tax rolls and paid, and they hadn’t 39 talked about accruing interest. 40 41 Finance Director Hanson stated that he didn’t recall that part of the discussion. He stated that on 42 the houses that would take another year or two to complete, there wouldn’t be any payment due 43 until 2006. 44 45