res_6368 - Laserfiche WebLink

Home

unbuildable loti double that for con~ercial or industrial or multiple property, that would raise assessments of $90,890. Obviously there should be something received from Arden Hills and the county itself, and assuming that would be received we would get $150,436 from assessments. The balance of the improvement would have to go on general taxes, which would be $182,22l which, spread over the 20 year period of time would be a little under $10,000 a year. If the city doesn't replace the street, and the county does the street work under the next improvement, then the total cost is less and the amount on gen- eral taxes would be correspondingly reduced. The assessments would remain the same. I do hasten to point out that as you know, the formula for storm sewers was adopted five or six years ago, if not longer, and it's been our feeling, and we have dis- cussed this with the city administration and the Finance Depart- ment, that perhaps the Council should take a look at what's happened in the last intervening years to determine whether that formula ought to be upped in view of increased costs because you're not getting today for $250 what you were getting five or six years ago, and if we stay with that formula there's a greater amount that has to be put on general taxes, so we're not saying we recommend the $250 or we think it ought to be a higher figure because of what has happened but the Council ought to consider it. Obviously at a feasibility hearing it's not necessary for us to make the financial determination. That will come at the assessment hearing, but I mention it very clearly for the record so in the event the formula is changed, anyone here would know that it was being changed for the particular reasons and things that we're voicing here tonight. The assessment hearing would be had. The assessments would be collected beginning in the following year with taxes spread over 20 years with an 8% interest charge on the unpaid amount with the right of prepayment during any year in that 20 year period of time. Whatever wouldn't be raised by assessments or Arden Hills or Ramsey County would have to go on general taxes which would affect all of the city and that's a matter the Coun- cil will want to look at very carefully. MAYOR DEMOS: Any communica tions ? MR. ANDRE: We have a letter from Carl Fisher, 3lll Prior Circle. "I question the boundary of the area to be assessed, 4