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<br /> <br />CITY OF ELK RIVER <br />NOTICE OF PROPOSED ASSESSMENT <br />LAKE ORONO RESTORATION AND ENHANCEMENT (LORE) PROJECT <br />August 17, 2021 <br /> <br /> <br />Name <br />Address <br />ELK RIVER, MN 55330 <br /> <br />Dear Property Owner: <br /> <br />Notice is hereby given that the Elk River City Council will meet at 6:30 p.m. on Tuesday, September 7, <br />2021, at Elk River City Hall, 13065 Orono Parkway, Elk River, to consider, and possibly adopt, the <br />proposed assessment for the Lake Orono Restoration and Enhancement (LORE) project. Adoption by <br />the council of the proposed assessment may occur at the hearing. The area proposed to be assessed <br />includes all properties with riparian access to Lake Orono, as shown on the attached map. The total <br />amount to be assessed is $175,120.00. The amount to be assessed to each Residential Equivalent Unit <br />(REU) within the assessment area is $880.00. Typical developed or buildable single-family residential <br />lakeshore properties will be assessed one REU. Residential properties in excess of 10 acres will be <br />assessed two REUs. Multi-family residential properties with common access to the lake will be assessed <br />0.50 REUs per residential unit. Vacant commercial properties will be assessed one REU per two acres of <br />property. The proposed assessment roll showing the proposed assessment to each property within the <br />assessment area is on file with the city clerk. Written or oral objections to the proposed assessment by <br />any property owner will be considered by the City Council at the public hearing. <br /> <br />The amount to be specially assessed against your particular lot, piece, or parcel of land, identified as PID <br />, ADDRESS, ELK RIVER MN 55330, is $AMOUNT. You will receive a final copy of the assessment <br />schedule upon conclusion of the public hearing when the final amount, term, and interest rate have been <br />officially adopted. <br /> <br />Such assessment is proposed to be payable in equal annual installments extending over a period of two <br />years, the first of the installments to be payable on or before May 15, 2022, and will bear interest at the <br />rate of two percent per annum from the date of the adoption of the assessment resolution. To the first <br />installment shall be added interest on the entire assessment from the date of the assessment resolution <br />until December 31, 2022. To each subsequent installment when due shall be added interest for one year <br />on all unpaid installments. <br /> <br /> <br /> <br /> <br />13065 Orono Parkway <br />Elk River, MN 55330 <br />763.635.1000 <br /> <br />ElkRiverMN.gov <br /> <br /> <br />