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<br />City of Arden Hills <br />2005 Assessment Policy <br /> <br />. <br /> <br />Schedule of Paymenls: <br /> <br />Year 1* <br />Year 2 <br />Year 3 <br />Year 4 <br />Year 5 <br />Year 6 <br />Year 7 <br />Year 8 <br />Year 9 <br />Year 10 <br /> <br />Interest <br />$ 450.00 <br />$ 243.00 <br />$ 216.00 <br />$ 189.00 <br />$ 162.00 <br />$ 135.00 <br />$ 108.00 <br />$ 81.00 <br />$ 54.00 <br />$ 27.00 <br />$1,66500 <br /> <br />Principal <br />$ 450.00 <br />$ 450.00 <br />$ 450.00 <br />$ 450.00 <br />$ 450.00 <br />$ 450.00 <br />$ 450.00 <br />$ 450.00 <br />$ 450.00 <br />$ 450.00 <br />$4,500.00 <br /> <br />Total <br />$ 900.00 <br />$ 693.00 <br />$ 666.00 <br />$ 639.00 <br />$ 612.00 <br />$ 585.00 <br />$ 558.00 <br />$ 531.00 <br />$ 504.00 <br />$ 477.00 <br />$6,165.00 <br /> <br />Balance <br />$4,050.00 <br />$3,600.00 <br />$3,150.00 <br />$2,700.00 <br />$2,250.00 <br />$1,800.00 <br />$1,350.00 <br />$ 900.00 <br />$ 450.00 <br />$ <br /> <br />* Nole: In1erest in year I is for twenty (20) monlhs (May I ,2005- December 31, 2006). <br /> <br />12. Ad Valorem Tax <br />The City Council may, at their discretion, ulilize ad valorem taxes 10 fund <br />portions of the project cost of any public improvement. This shall be done <br />in accordance with the appropriate Minnesota Slale Statules. <br /> <br />13. Petition for Non-Programmed Proiects <br />The City of Arden Hills has established a formal capilal improvement <br />program for streel reconslruction and rehabilitation projects. It is Ihe <br />intent of the City to generally follow this established program. The Arden <br />Hills City Council will accepl petilions from property owners requesting <br />non-programmed projects. Generally, the assessment rale for non- <br />programmed improvement projects iniliated by pctilion of the affecled <br />property owners, and approved by Ihe Council, shall be one-hundred <br />percent (100%) of the total project cost. <br /> <br />. <br /> <br />14. Improvements to Roadways Not Under City Jurisdiction <br />Thc City may assess properties thai abut roadways not under City <br />jurisdiclion, but receiving reconslruclion or bituminous overlay <br />improvements, The assessmenl rale levied against Ihese properties shall <br />be the same as Ihose established for City reconstruclion or bituminous <br />overlay projecls. <br /> <br />B. Assessment Units <br /> <br />The City shall levy special assessments on adjacent benefiling properties for street . <br />improvemen1 projects. The assessment rale shall be computed on a per-lot unit basis, <br /> <br />2005 Assessment Policy Manual - Page 10 <br />