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N10UND1tSVVfE-W <br />of Mounds View Staff R <br />Item No: 5.D. <br />Meeting Date: September 11, 2023 <br />Type of Business: Consent Agenda <br />Administrator Review: <br />To: Honorable Mayor and City Council <br />From: Gayle Bauman, Finance Director <br />Item Title/Subject: Resolution 9802 Adopting a Special Assessment Levy for <br />Reconstruction of an Existing Nonconforming Curb Cut <br />The City offered property owners the opportunity to have private improvements completed as part <br />of the area K street project. It is in the City's best interest to have as many of these improvements <br />done during the project to reduce the number of street openings that may have to happen in the <br />future. Each property owner has signed an agreement to waive their right to a public hearing and <br />has agreed to pay the full cost of the private improvement plus interest and the administrative fee. <br />This was a single property that was added to this year's completion of Area K. <br />The property owner may pay the amount due by 5:00 P.M. on Monday, September 11, 2023 in <br />order to avoid the $35.00 administrative fee. The owner may prepay the assessment between <br />September 12, 2023 and October 11, 2023 without paying additional interest. After that, interest at <br />the rate of 5.50% will accrue from September 11, 2023 through the payment date. This interest <br />rate and administrative fee were set by the City Council in Resolution 7135. <br />On or after October 12, 2023, we will forward the assessment roll to Ramsey County for collection <br />with the 2024 property taxes. <br />Respectfully submitted, <br />c,�2 � Le g�2 Vw,a0, <br />Gayle Bauman, Finance Director <br />