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HomeMy WebLinkAbout2016.10.03 CC PowerPoint Assessment HearingAssessment Hearing 147th Street / Oneka Lake Blvd October 3, 2016 A li'!/SB 04 .. ar. i 71 + i ` k, y �,� -•tom l �j�f, '•�e - �_. .-�k � !� it �� ' 'ti_ � •. � � � �, ,h•� �� E , A - e „ CITY C)F Pre Construction — Midway F 1906 Kir J li F 11111111111111V '-Ibmw vya&4 EST. 1906 Post Construction — East end k- A WSB HUGO EST. 1906 Costs/Financing • Total Project Cost • City Funds • Assessments • Assessment Rates • Single Family • Direct frontage • Access • Multi -Family • Linear feet of frontage A WSR $1,388,000 $1,187,575 (85%) $200,425 (15%) $5,200/unit $97.50/LF CITY ©F City Assessment Policy • Assessment the same whether or not trail is included • Utility repairs not a; • Corner lots prorated • Previous projects 147th St / Oneka Lake Blvd WJ CD `D 3 CD Corner/other lot examples Through lot Street A 0.5 unit 0.5 unit Street B WSB 3 -roadway frontages Street A 0.33 unit 0.33 unit 0.33 unit Street C .. M U lt'I L LL Hugo Elementary Nbr - 2009 t48th 0 .:3 c y Q 158th z iv 0 Rice Lake Meadows - 2015 City Assessment Policy • Assessments spread over 10 -year term at 4.27% interest • Can prepay assessment with no interest if done so within 30 days of Assessment Roll adoption (by Nov. 2, 2016) • Assessments will be certified to Washington County this fall for taxes payable in 2017 • Senior Citizen deferral available for those 65 or older Each property owner will be mailed detailed information regarding their assessment A W.SB Recommended Action • Hold Assessment Hearing • Consider Resolution Adopting Assessment Roll