09-28-1992 CC MIN - Laserfiche WebLink

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. . . City Council Minutes September 28, 1992 ~ Page 6 11. Mr. Thomas Terry Maurer explained that the Assessment Manual does address the corner lot assessments. 12. Mr. Klein - Lori Johnson stated that the bonds were sold at 6.02% and that the City adds 1-1/2% of the bond rate to cover any default of assessment and to cover administrative costs. 13. Twyla O'Keefe - Terry Maurer stated that there probably will be no assessment for the water tower to existing residential lots but this improvement project has not been discussed in detail at this time. 14. Mr. Kincanon Terry Maurer suggested that the City staff work with Mr. Kincanon to help him determine the the total public improvement costs for development. 15. Dennis Lloyd - Terry Maurer explained that the WAC charge was $300 and the cost of a meter was $66, making it a total of $366. Terry Maurer stated that he would also like to address a few other issues of the project. He indicated that the City received a letter of objection from the Bowling Alley. He stated that staff is recommending that the bowling alley property be treated the same as the Elk Motel property and other property north of Highway 10. Terry Maurer indicated that at one time the City Council added 80 acres to the assessment project of the Lakoduk property. He stated that it would not be possible to serve the property without additional trunk extensions. Therefore, he suggested that the Council consider assessing only the easterly 40 acres of the property from the project. The westerly 80 acres would be withdrawn from this project and assessed when the trunk lines are extended further west. Councilmember Dietz responded to Councilmember Kropuenske's comments on farmlands. Councilmember Dietz questioned how the City could collect fees from the farms at a future time if they are not assessed at the time of the project. He suggested that a policy be set as to what the assessment costs would be in the future. Councilmember Dietz expressed his concern of keeping the assessment costs on a fair basis to those being assessed for the project and to the farmers who would defer their assessments until a future date. Peter Beck, City Attorney, situation in the Green allowed to defer their however, the main concern stated that the State law addresses the farm Acres Act. He stated that the farmers are assessments through the Green Acres Act, is the interest that continues to accrue. Councilmember Kropuenske stated that he did not see any difference between those rural residential lots which have been excluded from the assessment and from the farm situation. He indicated that those rural residential lots are not being assessed for trunk improvements and will be assessed in the future for laterals when they hook up, but will not be paying interest.