2013.06.11 EDA Packet - Laserfiche WebLink

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EXHIBIT A TO SPECIAL ASSESSMENT POLICIES OF THE CITY OF HUGO, WASHINGTON COUNTY,MINNESOTA 1) New Roadway Improvements a) The City may become involved in designing, constructing, or financing new developer- driven roadway and associated improvements where the City determines at its sole discretion that it is a benefit to the City to do so. The following criteria shall be evaluated by the City in making the determination: i) Limited to collector streets and associated utilities as shown on the City's Comprehensive Plan. (1) Requires an evaluation of benefits to traffic flow and access. ii) Limited to areas with commercial or industrial economic development potential. (1) Requires an analysis of likely business opportunities and job creation. iii) Property lines or other factors make construction of planned infrastructure improvements unlikely. 2) Financing a) City involvement in designing, constructing, or financing new developer-driven roadway and associated improvements is contingent on the following parameters: i) Development of a financing plan that identifies total costs and matching revenue sources that guarantees 100% cost recovery by the City. ii) Special assessments for the improvement project will be levied to the subject property if the following conditions are met: (1) The assessment amount does not exceed 50% of the current property value. (2) The owner concurs that the increase in fair market value of the subject property will be equal to the total cost of the improvement project, and that such increase in fair market value is a special benefit to the subject property. (3) The owner concurs that the amount of the assessment against the subject property is reasonable, fair and equitable. Page 1