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Attachment B 175 before the project can begin. There would be opportunity to residents to pay off 176 the assessment without having any finance charges or fees. The Westwood 177 Village I Board has requested that the City follow its recorded Second 178 Amendment Declaration for establishing the assessment amounts. In general, the 179 costs for labor and materials for replacement of siding is divided on the basis of 180 total cost per linear foot of siding on the front and back of each unit and assessed 181 to the unit. All end walls of the buildings are assessed equally among the 47 182 homeowners. 183 3.9 An ordinance establishing a housing improvement area takes effect 45 days after 184 its adoption rather than 15 days after publication as with other ordinances. 185 During that 45 day time period owners of at least 35% of the units, in this case 17, 186 can veto the ordinance by filing a petition objecting to it. 187 188 189 190 191 192 193 194 4.0 3.10 When staff was reviewing Housing Improvement areas it was found that Coon Rapids, Hopkins, New Hope, Plymouth, St. Louis Park and Victoria have all done HIA's in the past. Staff did talk with Coon Rapids Community Development Ms. Cheryl Bennett, since they have been doing the most HIA's. Ms. Bennett commented that they have been doing so many HIA's that the City of Coon Rapids has put in place a procedure to process the requests. 3.11 Enclosed are public comments that staff has received to date. (Attachment F). Suggested Council Action: 195 4.1 Open Public Hearing and Take public comment — mailed notice was sent to all of 196 the owners of record within the proposed boundary of the HIA for Westwood 197 Village I. In addition, a public notice was published in the paper. 198 4.2 If Council finds, first, that without the establishment of the area the improvements 199 cannot be made and, second, that the proposed improvements are necessary to 200 preserve the housing units in the proposed area, then Council should adopt the 201 ordinance. If questions arise that cannot be adequately answered at this meeting, the 202 Council can postpone action on the ordinance. However, the ordinance must be 203 adopted within six month of the public hearing if the Council chooses to do so. 204 4.3 Discuss length, term and finance fees that Council would impose to Westwood 205 Village I so that the ordinance can be finalized. 206 207 20g 209 210 211 212 213 214 215 Prepared by: Jeanne A. Kelsey, Housing Program Coordinator (651-792-7086) Attachments: Attachment A December 18, 2006 Council meeting RCA and Minutes Attachment B June 11, 2007 Council meeting RCA and Minutes Attachment C Letter and Bid Summary Attachment D Letters from Banks Attachment E Summary of Capitalization Report Attachment F Public Comments Attachment G Ordinance Council Meeting (09-22-08) - Page 5 of 5