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<br />Memo <br />City Council <br />2004 Revised Assessment Policy <br />page 2 <br /> <br />e <br /> <br />. To incorporate language in the policy that specifies when or by what date a person has to <br />be age sixty-five in order to qualify for the senior defennent. <br /> <br />DISCUSSION: <br /> <br />The Task Force considered a number of options and methodologies. They reviewed front <br />footage, unit method, and a combination of front footage and unit method. The following are the <br />highlights from the proposed policy document: <br /> <br />. Change the assessment methodology to the Unit Method. <br />. Residents will continue to be assessed at fifty percent (50%) ofthe surface construction <br />costs. <br />. No assessments for sanitary sewer, water, and storm water that are part of the PMP plan. <br />. Interest assessed on unpaid balances will be at prime rate plus two percentage (2%) <br />points. <br />. Senior Deferrals - qualification guidelines are tied to the median household income in <br />Ramsey COWlty. <br />. City Council rctains thc right to review each project on its own merit and to deviate fyom <br />any portion of the Policy as it deems proper. <br /> <br />Based on the directive from the Council on May 24,2004, the Assessment Policy Task Force <br />met on July 22,2004 to clarify the items requested by the Council. The revised policy as <br />presented has addressed the concerns expressed by the Council. The changes are reflected on <br />pages 12 and 13. <br /> <br />e <br /> <br />RECOMMENDED ACTION: <br /> <br />The 2004 Assessment Policy Task Force and staffrecommend the approval of the revised 2004 <br />Assessment Policy. <br /> <br />e <br />