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erMte ' <br />i <br />1880 Main Street, Centerville, MNSS03n <br />:swlWishtrd 1857 651-429-3232 or Tar, 651-429-8629 <br />February 7, 2017 <br />OR CURRENT OWNER <br />`1313 MOUND TRAIL <br />CENTERVILLE, MN 55038 <br />Dear Property Owner: <br />Attached to or printed on the reverse side of this letter is the official notice of hearing for <br />special assessment for a street improvement affecting your property. The improvement <br />will result in a new pavement surface on your street. <br />The proposed assessment for benefit to your property is shown below, along with an <br />estimate of the annual cost that would result if the special assessment is collected with <br />taxes over several years. The City Council has not yet determined the term of the <br />assessment, but has in the past used a term of three years. <br />The proposed assessment based upon the bids received for the improvement together with <br />additional costs for engineering, legal and administrative expenses associated with the <br />improvement. The assessment amount is an estimate. <br />Proposed Special Assessment Per Property $550.00 <br />Assessments may be prepaid at any time. No interest <br />is due if paid by July 1, 2017 <br />Approximate annual payment based upon an <br />interest rate of 5% and a payment term of the <br />following: <br />Three (3) years $207.06/year <br />Please contact this office at (651) 429-3232 if you should have any questions. <br />Mike Ericson <br />City Administrator <br />2 <br />