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175 before the project can begin. There would be opportunity to residents to pay off <br />176 the assessment without having any finance charges or fees. The Westwood <br />177 Village I Board has requested that the City follow its recorded Second <br />178 Amendment Declaration for establishing the assessment amounts. In general, the <br />179 costs for labor and materials for replacement of siding is divided on the basis of <br />180 total cost per linear foot of siding on the front and back of each unit and assessed <br />181 to the unit. All end walls of the buildings are assessed equally among the 47 <br />182 homeowners. <br />183 3.9 An ordinance establishing a housing improvement area takes effect 45 days after <br />184 its adoption rather than 15 days after publication as with other ordinances. <br />185 During that 45 day time period owners of at least 35% of the units, in this case 17, <br />186 can veto the ordinance by filing a petition objecting to it. <br />187 3.10 When staff was reviewing Housing Improvement areas it was found that Coon <br />188 Rapids, Hopkins, New Hope, Plymouth, St. Louis Park and Victoria have all done <br />189 HIA's in the past. Staff did talk with Coon Rapids Community Development Ms. <br />190 Cheryl Bennett, since they have been doing the most HIA's. Ms. Bennett <br />191 commented that they have been doing so many HIA's that the City of Coon <br />192 Rapids has put in place a procedure to process the requests. <br />193 3.11 Enclosed are public comments that staff has received to date. (Attachment F). <br />194 4.0 Suggested Council Action: <br />195 4.1 Open Public Hearing and Take public comment — mailed notice was sent to all of <br />196 the owners of record within the proposed boundary of the HIA for Westwood <br />197 Village I. In addition, a public notice was published in the paper. <br />198 4.2 If Council finds,, first,, that without the establishment of the area the improvements <br />199 cannot be made and,, second,, that the proposed improvements are necessary to <br />200 preserve the housing units in the proposed area, then Council should adopt the <br />201 ordinance. If questions arise that cannot be adequately answered at this meeting, the <br />202 Council can postpone action on the ordinance. However, the ordinance must be <br />203 adopted within six month of the public hearing if the Council chooses to do so. <br />204 4.3 Discuss length, term and finance fees that Council would impose to Westwood <br />205 Village I so that the ordinance can be finalized. <br />041100 <br />207 Prepared by: Jeanne A. Kelsey, Housing Program Coordinator (65 1- 792 -708 ) <br />208 <br />209 Attachments: Attachment A December 18., 2006 Council meeting RCA and Minutes <br />210 Attachment B June 11., 2007 Council meeting RCA and Minutes <br />211 Attachment C Letter and Bid Summary <br />212 Attachment D Letters from Banks <br />213 Attachment E Summary of Capitalization Report <br />214 Attachment F1 Public Comments <br />215 Attachment G Ordinance <br />Council Meeting (09-22-08) - Page 5 of 5 <br />