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REQUEST FOR ACTION <br />To <br />Item Number <br />City Council <br />4.8 <br />Agenda Section <br />Meeting Date <br />Prepared by <br />Consent <br />November 19, 2012 <br />Lori Stich, Accountant <br />Item Description <br />Reviewed by <br />Resolution to Cancel the Special Assessment and Cancel Any <br />Interest on MacGibbon Property (PID #75- 411 -0220) <br />J ustin Femrite, City Engineer <br />Reviewed by <br />Tim Simon, Finance Director <br />Action Requested <br />The City Council is asked to remove the special assessment from parcel 75- 411 -0220. <br />Background /Discussion <br />In 1988, parcel 75- 411 -0220 owned by John MacGibbon was assessed as part of the Main Street <br />Improvement project. The assessment was specifically for the installation of a sanitary sewer. Originally <br />the assessment on this property was $250.70 to be paid over 5 years at a 7.75% interest rate. The <br />assessment was deferred until the property was developed. In researching the deferred assessments on <br />the MacGibbon properties earlier this year, it was determined that this parcel is unbuildable and should <br />not have been assessed. The same property owners did pay the outstanding deferred assessment on the <br />buildable parcel in full with accrued interest. <br />Financial Impact <br />None. <br />Attachments <br />Resolution to Cancel the Special Assessment and Cancel Any Interest on MacGibbon <br />Property (PID #75- 411 -0220) in the City of Elk River, Special Assessment Levy Number <br />88082. <br />Action Motion by Second by Vote <br />Follow Up <br />