Laserfiche WebLink
bonds were sold for. <br /> <br />l~a~v l~ggun inquired if the standard assessment would ever exceed the cost of <br />the ~nprovenent, <br /> <br />l/r. Hartley replied the standard assessment is below ~he proper~y value <br />increase resultinS fr~ the improvement, <br /> <br />Ha~ Kgg~ stated that he has ~pe~[enced cases in other conuunities where he <br />vas assessed for sever and water assessments and he received a second <br />assessmen~ when he subdivided the property. <br /> <br />Hr. Bartley stated that in most cases, with this project, we are talking about <br />the extension of sewer and water trunks; in most cases, we are not talking <br />about extending laterals. Property owners viii receive a second assessment <br />vhen laterals are installed, <br /> <br />Bernie Vevea stated that he would be paying a water assessment without having <br />the benefit of being able to hook up to water because the laterals wouldn*t be <br />there to serve his property. In addition, another trunk line would have to be <br />installed in order to get a lateral to his property, in which case he would <br />have a second trunk assessment and a lateral assessment. <br /> <br />Hr. Bartley replied that all properties viii receive only one assessment for <br />trunk lines Laterals would be extended from the trunk line on Sunfish Blvd. to <br />serve all properties in that area. <br /> <br />Bernie Versa inquired if he could be assessed a second trunk charge if the <br />trunk line were extended to the west. <br /> <br />Hr. Hartley replied that State law prohibits cities from assessing properties <br />more than once for trunk lineso <br /> <br />Bernie Yevea inquired if it would take a trunk extension to the west and a <br />lateral in order for him to hook up to municipal water. <br /> <br />Hr. Hartley replied that it would but Hr. Vevea would not be assessed another <br />trunk assessment. <br /> <br />Steve Gorecki inquired if the 100~ standard assessment to properties accepting <br />their assessment in the tenth year of the deferment period includes the accrued <br />interest over than ten year period. <br /> <br />Mr. Hartley replied that the interest clock starts when the property owner <br />begins making payments. Interest would not accumulate during the deferment <br />period but the 1on§er you defer, the greater percentage of the standard <br />assessment you will pay. <br /> <br />Bernie Yevea stated that then the property owner who defers the full ten years <br />is not receivinE any tax increment revenue assistance and benefit on his <br />assessment. <br /> <br />Mr. Hartley replied that the tax increment makes it possible for that property <br /> Sp Council/12-2-86 <br /> <br />Page 3 of 13 <br /> <br /> <br />