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Mounds View City Council March 28, 2005 <br />Regular Meeting Page 15 <br />Gary Nordness stated he understood that, but that's accruing interest up until that point. <br />Finance Director Hansen stated that he didn't recall the agreement being that there would be no <br />interest on the assessment. <br />Gary Nordness stated that they were just bringing that up for consideration as far as if there was a <br />deferral until the assessment is due, and then they would pay down whatever they got as they sell <br />it. <br />Finance Director Hansen stated that it would be up to the Council if they wanted to change the <br />terms of the agreement. <br />Gary Nordness stated that they weren't arguing about the assessment or the dollar amount. <br />Mayor Many asked if the assessment was for the street construction and the utility installations. <br />Gary Nordness stated it's the streets, utilities, curb, and gutter. <br />Mayor Marty asked if that had already been provided. <br />Gary Nordness stated that it had been, with the exception of some minor details. <br />• Mayor Marty asked if the City had paid for this at the present time. <br />Finance Director Hansen stated that there was a bit of finishing work that is estimated in here, <br />and the great majority of the work has been done and paid for. <br />Mayor Marty stated the reason this was constructed was for their project, so the City had done <br />their part of it so they could build the homes. He stated that apparently a number of them had <br />been sold already. He asked when the first one was going to be done. <br />Gary Nordness stated that it would close on Apri122. <br />Council Member Thomas stated that it would make sense to her as far as planning wise, that the <br />work is done, and it would make sense that the assessment would be in place now and the <br />interest would accrue because the work is done. She stated she would be most comfortable <br />leaving the terms as they are. <br />Council Member Gunn read the Resolution aloud. <br />Brian Amundsen, 3048 Woodale Drive, stated that he didn't like the fact that the Council had <br />purchased pieces of this property, and he would like them to reconsider getting involved in the <br />purchase of property and then bundling it and reselling it to developers. He would like to see the <br />developers working with the individual property owners directly. He stated he was disappointed <br />• that all the trees were wiped out in the area, and he had understood that as many as possible trees <br />