Res 2016-68 Deferring Special Assessment Payments
RESOLUTION NO. 2016 - 68
A RESOLUTION DEFERRING SPECIAL ASSESSMENT PAYMENTS FOR THE
PROPERTIES LOCATED AT:
NDND
4566 2 ½ STREET NE, 4707 2 STREET NE, & 4724 2 STREET NE IN REGARDS
TO STREET IMPROVEMENT PROJECT ST. 2016-01
WHEREAS, the City of Fridley received requests to defer the 2016 Street Improvement Project St.
nd
2016-01 assessment for the properties located at 4566 2 ½ Street NE, 4707 2 Street NE, and 4724
nd
2 Street NE and
WHEREAS, Minnesota State Statutes authorize cities to defer special assessment payments for
certain senior and disabled individuals, and
WHEREAS, the City Council by virtue of Resolution 14-1995 has established a list of factors as a
basis for granting special assessment deferments, and
WHEREAS, staff has reviewed the required factors and has determined the residents meet the
necessary factors and are therefore eligible for the deferment, and
WHEREAS, the deferral of these assessments will not pose a financial burden on the Street Capital
Improvement Fund, and
WHEREAS, the applicants are also aware the during the deferral period interest at 5.25 percent
continues to accrue and will be added to the outstanding principal balance each year, and
WHEREAS, repayment of the assessment will begin once the property is no longer eligible for
deferment, such as but not limited to the sale of the property or the property no longer being
classified as a homestead property, and
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Fridley that the
special assessment payments are hereby deferred for the properties located at 4566 2 ½ Street NE,
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4707 2 Street NE, and 4724 2 Street NE in regards to Street Improvement Project ST. 2016-01.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 14TH
DAY OF NOVEMBER 2016.
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SCOTT J. LUND - MAYOR
ATTEST:
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DEBRA A. SKOGEN - CITY CLERK