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City Council Regular Meeting Minutes February 8, 2005 Page 2 IV. PUBLIC HEARINGS. TODD HUBMER, WSB PRESENTING A. Resolution 05 -22; Ordering 2005 Street Improvements. 3 Mayor Faust opened the public hearing at 7:05 p.m. 4 5 Mr. Hubmer gave an overview of the street improvements and the method of assessments. He 6 reviewed which streets are being considered for improvements. He noted the sanitary sewer and 7 stone sewer will be replaced in each of the streets. All the water mains will be replaced as well 8 as new fire hydrants installed within the proposed improvement area. The anticipated cost is 9 $1,850,000. From this, $1.7 million will be paid for through the public utility bond. There will 10 be $150,000 paid out of storm sewer utility. The amount to be assessed to the residents is 11 $341,000. He said that public improvement bonds will be issued and the interest rate will be 12 calculated at 2% over the city bond rate at the time of assessment per annum. He noted the 13 initial assessment amounts have been mailed to the residents. The payment schedule will be over 14 a period of 15 years. The first installment will be payable with general taxes for the levy year of 15 2005, collectible in 2006. If the entire assessment is paid by November 30 of the assessment 16 year, no interest will be charged. 17 18 Councilmember Stille pointed out that Resolution 05 -023 states the interest is 2% over the 19 "prime" rate and suggested that needs to be changed. Mr. Hubmer responded the wording 20 should be changed to "city bond ". 21 22 Dave Youngman, 2501 33rd Avenue NE, stated his property is on the corner of 33'd and ^� Roosevelt. He said he did assume they would need to pay assessments for the side footages. He questioned how the calculations were made for the footae he was assessed on. He asked why 25 he is being assessed differently than others living on 33' Avenue. He also questioned whether 26 the 6% interest rate mentioned will change since the bonds have not yet been issued. He said he 27 thought that before a public hearing was held, final figures should be in so residents can plan on 28 those figures. He also requested a review of his assessment, and that it take place with him in 29 attendance. 30 31 Mr. Hubmer explained that the project is only on one side of Mr. Youngman's corner lot. The 32 assessment policy is that the city assesses 100% on the short side, which is considered the front 33 side. In Mr. Youngman's case, he has 100 feet of frontage on Roosevelt, and 150 feet on 33'a 34 making the Roosevelt side the short side. The city will assess 100% of the side along Roosevelt. 35 Mr. Hubmer further explained that Mr. Youngman's neighbor's parcel has the long side along 36 Roosevelt. One -third of the long side is assessed, and in this case it is 50 feet. He explained this 37 is the discrepancy Mr. Youngman sees in the assessment of his property versus his neighbor's. 38 39 Mayor Faust asked Mr. Hubmer to explain the policy if the street improvements were on 33'd 40 Avenue, and not on Roosevelt. Mr. Hubmer stated that Mr. Youngman would then pay one -third 41 of the footage on 33'a Avenue and his neighbor would pay 100% of the front footage. 42 43 Mr. Youngman clarified that someone facing Roosevelt, even though they have more frontage 44 than he does, would only be assessed 50 feet for the improvements. Mr. Hubmer answered in the 45 affirmative and said under the current assessment policy, the shortest dimension on the street is considered frontage.