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Page 4 '�P <br /> Assessments <br /> 11/8/93 <br /> For the railroad crossing improvements for the objecting parcels, the <br /> original assessment amtodnts totaled $32,Q74980e If the council concurs <br /> and reduces the total assessments as recommended to the amount of <br /> $20g720a60, the net amount of the reduction will be $11,354.20. This <br /> project fund will be short by this amount* <br /> Previous financing for the improvement was to be done using a <br /> combination of railroad funds, city state aid funds, and special <br /> assessments If the assessment amount is reduded by $11, 354.20, the <br /> amount must be made up by either the city or a reassessment against <br /> affected parcels* Based on the information from the appraiser, the only <br /> parcel that may legitimately be assessed any additional amount for the <br /> increased cost is the railroad, since they own the trackage* The <br /> railroad has Previously paid a portion of the project cost and it may he <br /> difficult to legally collect this additional assessment following a <br /> future assessment hearings The only other available option would be for <br /> the city to finance the $11,354.20 shortfall through the city state aid <br /> street fund* This alternative is recommendede <br /> RECOMMENDED COUNCIL ACTIONS <br /> city Council adopt a resolution amending assessment rolls for 1992 <br /> improvements for Projects 92-03 and 92-25 a s recommended by staff. <br />