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<br />REQUEST FOR COUNCIL ACTION <br />Date: 5/5/2025 <br />Item No.: 10.d. <br />Department Approval City Manager Approval <br /> <br /> <br />Item Description: Order Final Assessment Public Hearing for County Road B <br />Reconstruction <br />1 <br />2 Background <br />3 County Road B from Cleveland Avenue to the west edge of Sunset Park was reconstructed <br />4 last year. Per the City Assessment Policy, the street reconstruction costs are assessable. <br />5 Per state statute, a final assessment hearing is held before any special assessments are <br />6 levied. The preliminary assessment hearing was held November 6, 2024. Construction is <br />7 substantially complete and roadway costs to be assessed are known. Staff wishes to have <br />8 the final assessment public hearing set so property owners have more time to pay their <br />9 assessment in advance of interest accrual and so that filing with the County is not rushed in <br />10 the fall. Below is a comparison of proposed and final assessments: <br />11 <br />12 <br />13 <br />14 More information on assessments can be found on the attached draft final assessment roll <br />15(Attachment 2), draft public notice (Attachment 3) and draft letter to property owners <br />16(Attachment 4). <br />17 <br />18 The public hearing is required per state statute and allows for property owners to serve a <br />19 notice of appeal. At the June 2 meeting, the Council will also be asked to pass a resolution <br />20 to confirm that staff recommended 10-year payment term and 6.00% interest (determined <br />21 as 2% over the current bond interest rate of 4%). <br />22 <br />23 Once restoration is complete and the final contract documents are received, staff will return <br />24 to City Council for approval of final payment and contract close out. <br />25 <br />26 Policy Objectives <br />Page 1 of 2 <br />Qbhf!:4!pg!248 <br /> <br />