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I I I Council Meeting Minutes October 3, 1989 Page 3 Public Hearing - Long Lake Road Project - 7:50-9:24 p.m. Les Proper, City Engineer, explained the special assessment payment process. Residents may pay the full assessment amount, interest free, at the New Brighton City Clerk's office, provided payment is made within 30 days from the date of Council adoption of the assessments. If full payment is not made, the unpaid amount will be certified to Ramsey County and will be collected with the real estate taxes. City staff recommends spreading the assessment over a 10 year period with interest charged at a rate of 8.5% per year on the unpaid balance., The first installment of the assessment will appear on the 1990 tax statement and will include about 15 months' interest. This 15 month interest period includes all of 1990 and the last 3 months of 1989. To qual i fy for the seni or citizen deferment, res i dents must be at 1 east 65 years old and the annual amount of the assessment must exceed 1% of their adjusted gross incomes. The Long Lake Road Upgrading Project entailed the upgrading of Long Lake Road between County Road Hand 1-694 from a rural roadway in disrepair to an urban section roadway with storm sewer, curb and gutter, si dewa 1 k and bi tumi nous surfaci ng. Long Lake Road was a joint project between the City and the County to be paid for from a combination of County State Aid, Municipal State Aid, and special assessments. The project was constructed in two phases. The north phase, County Road H to 19th Street NW, was constructed duri ng the peri od of October, 1987 to July, 1988. The south ph2se, 19th Street NW to I- 694, was started in August, 1989, and will not be completed until Spri ng, 1990. The south phase costs are estimates based on the amount of construction contract plus a 5% contingency. In accordance with Comprehensive Street Plan policies, 25% of the City portion of the road surfacing and 100% of the City portion of the curb and gutter will be special assessed against the benefitting properties on Long Lake Road. The estimated total cost to be special assessed for the road is $253,203.02. The assessed road cost is calculated on a front foot basis. A corner lot which has its shorter side on Long Lake Road is included in this project. There is a total of 16,101.74 feet of assessable frontage on Long Lake Road. Dividing the road cost to be assessed by 16,101. 74 feet yi e 1 ds an assessment rate of $15.73 per front foot. Public Hearing Long Lake Road Project 85-1 Report 89-238 Resolution 89-123