Agenda - Parks and Recreation Commission - 05/11/2000 - Joint with Planning Comm

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(3) (4) Public Way8 & Property properties. The remaining sixty percent (60%) of the project cost shall be paid from general ad valorem property taxes. Seal Coating Street Improvements: Seal coating street Improvements shall be treated as a general maintenance expense which shall be entirely supported by the property taxes through a special levy spread over the entire City. Assessments Determination: The street overlay improvements which are to be assessed shall be determined as follows: The assessments shall be based upon a footage charge (rate per foot times footage) or a unit charge, as determined by the City Council, All assessments shall be on a current basis and shall not be subject to a maximum footage or deferred classification. Front footage shall be determined in the following manner:. :> Platted lots will be determined by the average width of the parcel Double-sided lots will be assessed on the street address side or both sides if subdividable. :> Comer lots will be assessed on the short side. The footage which exceeds one hundred fifty feet (150') on the long side of those comer lots of exceptional size will also be assessed. ~* Odd shaped lots will be assessed based upon parcels of comparable size. )~ Unplatted parcels will be assessed the equivalent of the numbe,' of' eighty foot (80') lots that may be created which front on the improvement. ~. Nonbenefited parcels may be determined to be exempt from such assessment as determined by the City Council if the topography, access or zoning of a parcel is such that the use of the improvement is not feasible. d. Unit assessment shall be defined as a buildable lot of record. Instances in which a lot of record is eligible for subdivision, the number of units, for assessment purposes, shall be determined according to the City's Subdivision Ordinance in effect at time of assessment hearing. Method of Payment And Interest; All assessments shall be subject to an interest rate as determined by the City Council. Said assessments may be paid without interest by the benefited property owner by paying the entire assessment within thirty (30) days of the public improvement assessment headng. Partial payment reduction of the assessment principal shall be allowed only during the thirty (30) days following the assessment headng. Upon certification of the assessment to the County, the assessment may only be paid annually as the assessment appears on the tax statement or may be paid in its entirety. (5) Assessment Term: This shall be determined annually by the City Council. 'City 'of PrJ'~r Lake 701/p4