Minutes - 2005/03/28 - Laserfiche WebLink

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Mounds View City Council March 28, 2005 Regular Meeting Page 14 supports this application. • MOTION/SECOND. Gunn/Thomas. To waive the reading and to approve Resolution 6482, Conditional Use Permit for an Oversized Garage at 5343 Clifton Drive. Ayes-5 Nays-0 Motion carried. D. 7:20 p.m. Public Hearing to consider Resolution 6487 to adopt the proposed assessment for the Hidden Hollow project. Public Works Director Lee stated that the Hidden Hollow project is nearing completion, and there are a few punch list items that need to be completed, as well as putting bituminous on the streets. He stated the proposal is to assess one property owner $395,596.63, and the property owner, Pro Craft Homes, has subdivided the property into 171ots, so the assessment would be divided equally among those lots, which would be $23,270.39 per lot. He stated that staff recommends approval of the assessment roll for the Hidden Hollow project. Mayor Marty opened the public hearing. Gary Nordness thanked the Council and staff for their support of this project, and he stated that they accept the assessment. He stated he had talked about a 4 percent interest rate charge instead of 5 1/2, so that was the only question he had. He stated it was his understanding the payment • would be deferred unti12006, but he asked the Council to take into consideration when that payment is due and when the interest begins. He stated that the home prices are between $400,000-$500,000, and that increased the tax base considerably. Finance Director Hansen stated that the 4 percent was specific to the installment purchase price of the land, and that is what was charged. He stated that although the assessment is set up as a ten-year assessment, as they close on the houses, they would be paying off the assessment, so it wouldn't be out there for ten years. He stated that the assessment would only exist for a few months, and up to two years. Gary Nordness stated that they anticipated paying off six lots prior to the October 25~' deadline. Finance Director Hansen stated that interest would accrue on the remainder. Gary Nordness stated he thought interest would accrue until it was assessed, and he thought Finance Director Hansen had said it would be put on the tax rolls and paid, and they hadn't talked about accruing interest. Finance Director Hansen stated that he didn't recall that part of the discussion. He stated that on the houses that would take another year or two to complete, there wouldn't be any payment due unti12006. •