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• <br />ASSESSMENT PROCEDURE - A special assessment hearing would be required to levy <br />assessments if the project is ordered by the City Council and the project is constructed as <br />proposed. At the special assessment hearing, the Council will determine the method of <br />assessment to be used, the amounts of the assessment based on actual costs, the interest rate to be <br />charged, and the period of years over which the assessment is to be spread. Property owners who <br />are assessed are provided with a 30 -day period to pay off their assessment without interest <br />charges once the Council approves the assessment. Assessments that are not paid off during this <br />30 day period are certified to Ramsey County to be collected with real estate taxes under the <br />terms set by Council at the assessment hearing. The first payment of the levied assessment would <br />appear on the 2010 year's tax statement and would include about 15 months interest from the <br />date of the assessment hearing through the end of the 2009 tax year. An example special <br />assessment payment schedule of the estimated assessment for this project appears in Appendix <br />B. <br />The City has adopted an ordinance for the deferment of special assessments for elderly residents; <br />see a copy of Section 2 of the New Brighton City Code in Appendix B. To qualify for a <br />deferment, residents must be 65 years of age or older and the average annual amount of all their <br />assessments must exceed one percent of their Federal adjusted gross income. <br />PROPOSED WATERMAIN REPLACEMENT FUNDING - The replacement of <br />the watermain on 14th Street NW is proposed to be paid for from the Water Improvement Fund <br />which was established to pay for water system improvements at the time of street reconstruction. <br />PROPOSED SANITARY SEWER REPAIR FUNDING - The three repairs to the <br />sanitary sewer in the project area are proposed to be funded by the Sanitary Sewer Improvement <br />Fund. <br />PROPOSED STORM SEWER IMPROVEMENTS FUNDING - The addition of <br />the new storm sewer catch basins on 13th Terrace NW is proposed to be funded by the <br />Stormwater Improvement Fund. <br />PROPOSED RETAINING WALL FUNDING - The replacement of retaining wall on <br />29th Avenue NW is proposed to be paid for from Municipal State Aid funds. <br />PROPOSED PUBLIC. SAFETY IMPOUND LOT PAVING - The paving of the <br />impound lot is to be paid for by general taxes or vehicle forfeiture funds. <br />51 <br />