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Staff has reviewed several assessment policies from various <br />municipalities. Each city seem to assess public improvements in a <br />similar manner, although a few, similar to Mounds View must follow <br />guidelines established in the City Charter. <br />Staff has compiled an assessment policy that combines various <br />segments of individual policies, into one that hopefully addresses <br />Mounds View's needs. To briefly summarize the policy, property <br />owners benefitting from a given improvement would be assessed two <br />thirds (2/3) of the total improvement costs. It is a bit more complex <br />than this and is explained in greater detail in the attached <br />Assessment Policy. This Policy will be reviewed at the meeting. <br />Additional funding will be necessary to complete desired <br />improvements. Other funding mechanisms can include, ad valorem <br />taxes, dedicated improvement funds, general obligation bonds, and <br />enterprise funds. <br />Arbitrary Improvement Assessment <br />Total Improvement Costs $120,000 <br />Total Adjusted Front Footage (AFF) 3,600 ft. <br />all properties benefitting) <br />Individual Property AFF 100 ft. <br />AFF / TAFF * COSTS * .66(2/3) <br />100 / 3,600 * $120,000 * .66 <br />028 * $120,000 = $3,360 * .66 = $2,217 <br />Other funding responsible for approximately $40,000.