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a) Construction of a new M.S.A. street as part of a new <br />development. The City will cover the cost for a section of roadway <br />that exceeds the current City's standard (example: thicker <br />pavement and additional width of the road). <br />b) M.S.A. street reconstruction as identified in the City's Roadway <br />Reconstruction Assessment Policy. Refer to the Appendix for the <br />policy requirements. <br />c) Land acquisition costs — 100% of all land acquisition costs will be <br />assessed to commercial, industrial and residential properties that <br />benefit from the improvement. <br />d) A credit, not to exceed the total assessment, shall be given against <br />such total assessment for a pro-rata portion of the right-of-way <br />acquisition costs and the appraised or negotiated value of any <br />property which is/has been donated as necessary for the project <br />construction. <br />e) At the discretion of the City Council assessments upon unimproved <br />property may be deferred until a designated future year or until the <br />subdivision of the property or the construction of the improvements <br />thereon which shall have access to a municipal state aid roadway. <br />(Field entrance is not an improvement in itself). <br />Construction of improvements shall be defined as activity upon the <br />property which requires the need for a permit from any city, <br />county, state or federal government agency. In the event that <br />such construction of improvements is only upon a portion of the <br />property for which the assessment is deferred, such deferral shall <br />be terminated against that portion of the property where the <br />improvement is located in an area equal to the minimum lot size <br />established for the zoning district within which it is located. Such <br />deferral can be on such terms and conditions and based upon <br />such standards and criteria as provided by Council resolution. <br />Such assessments can be deferred for up to fifteen (15) years <br />without interest and if the property has not been subdivided for <br />improvements constructed thereon within that period of time, the <br />assessment shall be canceled. <br />All property with deferred assessments that are subsequently <br />subdivided or have improvements constructed thereon which have <br />access to the State Aid improvement shall require the payment of <br />such assessments in five equal annual installments with interest <br />thereon at the maximum rate allowed by Minnesota law in effect at <br />that time on unpaid special assessments. <br />-13- <br />