CCP 03-11-2014 - Laserfiche WebLink

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proposed. At the special assessment hearing, the Council will determine the method of assessment to be used, the amounts of the assessment based on actual costs, the interest rate to be charged, and the period of years over which the assessment is to be spread. Property owners who are assessed are provided with a 30 -day period to pay off their assessment without interest charges once the Council approves the assessment. Assessments that are not paid off during this 30 day period are certified to Ramsey County to be collected with real estate taxes under the terms set by Council at the assessment hearing. The first payment of the levied assessment would appear on the 2016 year's tax statement and would include about 15 months interest from the date of the assessment hearing through the end of 2016. Assessment rate calculations and an example special assessment payment schedule of the estimated assessment for this project appears in Appendix B. The City has adopted an ordinance for the deferment of special assessments for elderly residents; see a copy of Section 2 of the New Brighton City Code in Appendix B. To qualify for a deferment, residents must be 65 years of age or older and the average annual amount of all their assessments must exceed one percent of their Federal adjusted gross income. PROPOSED WATERMAIN REPLACEMENT FUNDING — All water system improvements are proposed to be paid for from the Water Improvement Fund which was established to pay for water system improvements at the time of street reconstruction. PROPOSED SANITARY SEWER REPAIR FUNDING - All sanitary system improvements are proposed to be funded by the Sanitary Sewer Improvement Fund. PROPOSED STORM SEWER IMPROVEMENTS FUNDING - All storm sewer system improvements are proposed to be funded by the Stormwater Improvement Fund. PROPOSED EASEMENTWALK IMPROVEMENTS FUNDING - All easement work including surveying is proposed to be funded by the Stormwater Improvement Fund. PROPOSED PROJECT SCHEDULE We recommend the following schedule for this project: Neighborhood Informational Meeting February 12, 2014 Receive Feasibility Study and set Improvement Hearing date March 11, 2014 Improvement Hearing April 8, 2014 Award Contract July 2014 Start Construction July /August 2014 Project Completion October 2014 Assessment Hearing September 2015 7