Agenda Packet Cc - regular meeting 8/28/1989

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COUNCIL MEETING TO: Mayor and City Council AUG 2 81989 FROM: Mark E. Bernhardson, City Administrato V CITY OF ORON 0 DATE: Augus`. 17, 1989 SUBJECT: Woodhill Avenue - Assessment Attachments: A. Woodhill Assessment Construction Memo Dated 6/14/88 E. Notice of Assessment Mailed 8/11/89 C. Assessment Role Dated 8/24/99 D. Proposed Resolution of Assp-.:ment ISSUE - 1. Holding o,` public hearing prior to assessment. 2. Determination as to whether the Council desires to assess any of the balance of monies to the abutting residence. If so, the amount to be assessed. 3. Adoption of the resolution of the assessment. INTRODUCTION - The Woodhill project was undertaL^n and constructed last year. As noted in Attachment A the c l,.)per together with the Country Cl_h were charged 75% of the . C. nf the balance of 25% the City was going to pay 15% and with 10% to be assessed to the three abutting property owners. The project in addition to straightening and widening also provided a better access entrance onto the street from Crono Orchard Road together with improving what oad been a-i oiled upgrade over the years. DISCUSSION - While the project construction was done last year, the restoration was completed this summer. As noted in the assessment the proposed assessment is $1,660.47 per unit. For a total among the three properties of $4,981.41. The project cost totals were $49,81.4.19 with no capitalized interest is being charged between the actual payment by the City last year and the interest between then and now. The assessment will be over 5 years at 88 interest.