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'-i// <br />city of <br />Elk -~-~ <br />River <br />REQUEST FOR ACTION <br />To Item Number <br />Ci Council 8.2. <br />Agenda Section Meeting Date Prepared by <br />Administration A ri120, 2009 Lori ohnson, Ci Administrator <br />Item Description Reviewed by <br />Petition, Waiver and Agreement for the Cancellation of Certain <br />Special Assessments and for the Levying and Deferral of Special Reviewed by <br />Assessments <br />Action Requested <br />Approve petition, waiver and agreement for the cancellation of certain special assessments and approve <br />levying and deferral of special assessments. <br />Background/Discussion <br />City Attorney Peter Beck has drafted a petition, waiver and agreement for the cancellation of certain <br />special assessments and approve levying and deferral of special assessments (Agreement) between FMM <br />Family Limited Liability Partnership and the City of Elk River to handle future special assessment <br />payments for property formerly owned by Frank and Mary Jo Miske. The Miskes entered into a contract <br />for deed with a developer for a project known as River Park. The property was assessed for trunk water <br />and sewer improvements as requested for the development of the property; a portion of the special <br />assessment levied remains outstanding, payable in future years. The developer is now transferring all of its <br />right to the property back to the original property owner. The owner intends to use the property for <br />agricultural purposes, not residential development. Therefore, the owner has requested that the City <br />provide relief for the future assessment payments. <br />The Agreement cancels the existing assessment and reassesses it at a predetermined amount once the <br />property is developed subject to the terms of the agreement. It does not forgive the assessment; rather, it <br />delays the assessment indefuutely until the property is developed at some point in the future. <br />Financial Impact <br />The assessment payments on this property will be deferred until the property is assessed. There are no <br />outstanding bonds payable on the project; therefore, the delay of payment does not adversely affect the <br />City. <br />Attachments <br />^ Petition, Waiver and Agreement for the Cancellation of Certain Special Assessments and for the <br />Levying and Deferral of Special Assessments <br />Action Motion by Second by Vote <br />Follow Up <br />S:\Council\Lori\2009\Spedal Assessment Deferral Miske 04 20 09.doc <br />