Agenda - Council - 07/27/1993 - Laserfiche WebLink

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-~3u-£'~'-l'?d,Z; 14:3~ FROId CITY OF BLAIN~ " 4~,.~4~ F'.~2 improvements are installed upon petition by a Developer, shall be treated and assessed as follows: Those non-petitioning parcels of property outside of the development area shall be assessed one full unit plus one-half unit for each remaining equivalent unit in the parcel. Assessments for the initial whole unit shall be levied immediately while the aggregate assessment for the remaining equivalent units shall be deferred for a period of five years with interest accumulating on such deferred assessments. At the end of five years, the deferred as- sessment, plus accumulated interest, shall be respread and payable over a ten year period. Transfer of parcel owner- ship or subdivision of a parcel shall cancel any related outstanding assessment deferral; such assessments plus accumulated interest shall thereafter be respread and payable over a ten year period. At such time as each and any building permit is sought for any respective equivalent unit, an infrastructure sur- charge shall be collected in an amount equal to 35% of the original unit assessment, updated to current year value and apportioned to the parcel. Such surcharge shall be · credited to the public utilities fund. IV. PROCEDURES REL~..TING Tp APPO~TtON_M~_NT: 1. SaniAary ~mwer T~unk Sanitary sewer trunk costs are apportioned throughout the gross area that is served by the trunk facility. (see Area Method in Section III 6,) The costs are uniformly apportioned to each parcel in proportion to parcel area. In a residential plat, the gross.area of the plat is multi- plied by the assessment cost/acre and that amount divided by the number of unit/lots and equivalent unit/lots in the plat. 2. Sanitary Sewer Lateral Sanitary sewer lateral costs are apportioned to the proper- ties served by the lateral sanitary sewer by dividing the assessment cost by the front footage of the benefiting properties or by dividing the assessment cost by the nun~ber of benefitting unit/lots (including equivalent unit/lots). Where lateral service is also provided by a trunk, the properties so served are a~sessed a "typical" lateral cost similar to other properties served by a lateral. Credit for such "typical" lateral assessments shall be deducted from the cost of the sanitary sewer trunk. - 7 -