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iii. The remaining 75% of the cost of a remediation project shall be paid by the <br />applicant or financed by a voluntary special assessment. <br />b. Special Assessment Funding <br />i. Additional funding is available through a voluntary special assessment <br />against an improved or impacted parcel. <br />ii. Awards for special assessments of up to five years are subject to a market- <br />based interest rate and legal requirements related to special assessments. <br />5) Application for the Program <br />a. Grant applications are accepted during the month of October for projects to be <br />constructed during the following calendar year. Thereafter, available funding may <br />be awarded on a first-come, first-serve basis. <br />i. For 2023 projects, grant applications were accepted prior to the City <br />Council meeting on August 8, 2023. <br />6) Criteria for Funding Individual Remediation Projects <br />a. Award of grants or special assessments are based on: <br />i. Meeting the stated purpose of the Program. <br />ii. The economic utility of a proposed remediation project. <br />iii. The feasibility of a proposed remediation project. <br />iv. The availability of Program funds. <br />b. The City Administrator will use these criteria to rank projects for potential award <br />of Program Funds. In doing so, the Administrator, in conjunction with city staff and <br />consultants, shall apply engineering judgement to planning and engineering aspects <br />of project. <br />c. Program Funds shall be awarded subject to terms and conditions imposed by the <br />City Council. <br />7) Operation Of Program and Program Conditions <br />a. Achieving the ProgramÓs Purpose. Staff shall work with individuals or groups of <br />property owners to resolve drainage problems that exist on private property. To <br />achieve this goal, Program Funds may be used to construct improvements on <br />parcels in the vicinity of impacted parcels. <br />b. Information Necessary for Program Applications. Applicants shall submit <br />drawings and other info, such as calculations, as deemed necessary by the city. <br />c. Remediation Projects Shall Do No Harm. No remediation project shall degrade <br />conditions on adjacent properties; and no remediation project shall degrade natural <br />features which promote water uptake. <br />d. Ownership of Land & Improvements. Parcel owners and/or easement holders <br />will retain ownership of real property and improvements where Program Funds <br />have been used; and such parties must agree to perpetually maintain improvements <br />constructed using Program Funds. <br />Ћ <br />ĻƩƭźƚƓ ЉБΉЊБΉЋЉЋЌΏЊ <br /> <br />