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The Mounds View Vision <br />A Thriving Desirable Community <br /> <br /> <br /> <br /> <br /> <br />Item No: 8A <br />Meeting Date: February 25, 2019 <br />Type of Business: Council Business <br />Reviewed by City Administrator: ________ <br /> <br />City of Mounds View Staff Report <br />To: Honorable Mayor and City Council <br />From: Mark Beer, Finance Director <br />Item Title/Subject: Public Hearing to receive Public Input and pass upon Resolution <br />9084 Adopting a Special Assessment Levy for the 2018 Business <br />Park North Street Improvement Project <br /> <br />A public hearing is scheduled for 6:30 P.M. to receive public input regarding the proposed <br />assessment of the 2018 Business Park North Street Improvement Project. <br /> <br />A legal notice of this public hearing was published in the February 6 and 13, 2019 editions of the New <br />Brighton Bulletin. Individual notices of the meeting were sent by first class mail to the affected <br />property owners on February 5, 2019. Attached is the full roll of assessment notices that were sent <br />out. <br /> <br />Some of the property owners may have paid, or will pay, the amount due by 4:30 P.M. on Monday, <br />February 25, 2019. Others will pay after the roll is certified Monday night, but before the roll is <br />forwarded to Ramsey County. <br /> <br />Owners may prepay the assessment between February 26 and March 25, 2019 without paying <br />additional interest. After that, interest at a rate of 5.5% will accrue from February 25, 2019 through <br />the payment date. This interest rate was set by the City Council in Resolution 7135. <br /> <br />On or about April 15, 2019, we will forward the assessment roll, minus any prepayments, to Ramsey <br />County for collection with the 2020 property taxes. <br /> <br />Strategic Plan Strategy/Goal: Maintain and Plan for Infrastructure Improvements. <br /> <br />Financial Impact: The assessments to be certified are 12.5% or $93,277.48 which off-set the <br />street improvement costs of $746,220. The remainder was paid out of the Street Improvement <br />Capital Projects fund 485-4470-7050-320 the budget was $800,000 for the project. <br /> <br />Respectfully submitted, <br /> <br /> <br />___________________________ <br />Mark Beer <br /> <br />