My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
2022-06-21 CC Packet
Centerville
>
City Council
>
Agenda Packets
>
1996-2022
>
2022
>
2022-06-21 CC Packet
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
6/20/2022 11:49:40 AM
Creation date
6/20/2022 11:49:30 AM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
91
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
2022 THIN OVERLAY PROGRAM/CITY HALL PARKING LOT IMPROVEMENTS <br />Project Financing/Assessments <br />PROJECT FINANCING <br />Improvement projects like the thin overlay contemplated in this report can be financed in whole or <br />in part by a combination of funds from the City’s Thin Overlay program fund in the general levy and <br />Special Assessments under the authority of MN Chapter 429 law. In general, this law allows <br />municipalities to assess benefiting properties for all or a portion of the cost of public improvements. <br />The maximum amount which can be assessed is the lesser of the total project costs (divided <br />uniformly over the same classes of property) or the increase in property value afforded by the <br />improvement to the benefiting properties. <br />Thin Overlay Improvements <br />For this project, and in keeping with the City’s Special Assessment Policy, residential property <br />assessments are proposed on a per parcel basis. <br />Typically, the amount being assessed in residential areas as a percentage of the project costs has <br />been approximately 25%. Therefore, the total assessable amount for this project should not exceed <br />25% of the total project costs. The remainder of the costs would be funded via the City’s General <br />Levy/Street Fund. <br />See Figure 3 for the benefitting properties to be assessed. <br />Parking Lot Improvements <br />The proposed parking lot improvements will be funded via the City of Centerville’s General <br />Levy/Street Fund. <br />Financing Summary by Funding Source <br />Special AssessmentsGeneral FundTotal <br />Thin Overlay$133,750$401,250$535,000 <br />City Hall Parking Lot$0$176,000$176,000 <br />TOTAL$133,750$577,250$711,000 <br />City of CentervillePage 5 <br />2022 Thin Overlay Program193805625 <br /> <br />
The URL can be used to link to this page
Your browser does not support the video tag.