1994-11-09 CC Minutes Assessment HearingASSESSMENT HEARING
WESTWIND THIRD ADDITION
November 9, 1994
Albertville City Hall
7:30 PM
PRESENT; Mayor Mike Potter, Councilmembers Duane Berning,
John Vetsch, and Sharon Anderson, City Clerk Linda Houghton, City
Attorney Mike Couri
Mayor Potter called the assessment hearing to order.
There was no audience in attendance for the hearing.
Engineer Norm Gartner explained that each of two lots in the
development were assessed equally in the amount of $64,397.92, for
the total project cost of $128,795.83 as follows:
Construction $103,016.95
Engineering $16,909.88
Bonding $2,500.00
Legal/Administrative $6,369.00
The interest the City will pay on the bond is 5.35% and the
assessment roll will be certified at 1.5% above that rate, or
6.85%, over a period of three years
Councilmember Bernina questioned if capitalized interest was
included in the total costs assessed. Attorney Couri found that
an approximate amount of $3500 in capitalized interest should be
assessed over the two lots. Couri will determine exactly how much
additioanl capitalized interest should be added to the project
cost. The assessment roll will be amended to show a special
assessment which includes the amount of capitalized interest.
Since the assessment notice did not include the additional
assessment for capitalized interest, Attorney Couri explained that
the City could either conduct another assessment hearing, or
contact the developer, John Wiecht, and ask him to waive his right
to a second hearing and allow the assessment of the entire amount
per lot.
Berning made a motion to adopt RESOLUTION #1994-18 (copy
attached) establishing the assessment roll for the Westwind Third
Addition and authorizing the clerk to contact the developer
regarding the waiver. Anderson seconded the motion. All voted
aye.
Anderson made a motion to close the public hearing. Berning
seconded the motion. All voted aye.
Linda Houghton, Clerk