6.3. SR 01-13-2003 - Laserfiche WebLink

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As shown on Exhibit 4, three of the four corner properties on Boston Street and Concord Street at Orono Road have previously been assessed for sanitary sewer and water service. Also, on Boston Street there are three houses each located on two lots. The Gilles property (75-468-0140) has had the two lots combined into one tax parcel and therefore will only be assessed one unit. The Larson property (75-468-0120 and 75- 468-0130) and the Demarre property (75-468-0215 and 75-4687-0220) have not had their lots combined. They are legally two separate parcels. As has been the City's policy, if the Larsons and Demarres each combine their two lots into one tax parcel prior to the assessment hearing, they will only be assessed one unit. Assuming the Larsons and Demarrres combine their properties, the total number of assessable units would be 21. Dividing this number of units into the assessable cost, the assessment rate per parcel would be $17,500. Assuming this amount is assessed over a 15-year period at 6.0% interest, an example of an assessment amortization schedule is provided in Appendix B. Other options to lessen the initial burden on homeowners would be a 20oyear period or an increasing annual payment. X. PROJECT SCHEDULE Feasibility to City Council Public Hearing Plans and Specifications Ordered Prepare plans and Specifications Walk Through with Residents Plans and Specifications Approved by City Council Advertise for Bid Assessment Hearing Bid Awarded Begin Construction Construction Substantially Complete First Assessment Payment with Real Estate Taxes Place Final Bituminous Lift Final Project with Contractor January 13, 2003 February 10, 2003 February 10, 2003 30 -60 days Spring 2003 Spring 2003 30 days April 2003 May 2003 May/June 2003 Fall 2003 May 2004 June 2004 June 2004 Assumes no objections to assessment are received at the assessment hearing. If objections are received, a 30-day period is necessary prior to award of the contract to allow objecting property owners to act on their assessment appeal.