Resolution 40-05 Assessment Policy

NOW, BE IT RESOLVED by the City Council of Mountain Iron, Minnesota, that the following is hereby adopted as the new street, curb & gutters assessment policy for the City of Mountain Iron:

STREETS:

A. New Construction: 90% assessment of the costs to property owners as determined on a linear front foot basis. The remaining costs of the construction shall be paid from the general city finds.

B. Reconstruction: 75% assessment of the costs to the property owners as determined on a linear front foot basis. The remaining costs of the improvements shall be paid from the general city finds.

C. Overlay: 50% assessment of the costs to property owners as determined on a linear front foot basis. The remaining costs of the improvements shall be paid from the general city funds.

CURBS AND GUTTERS:

75% assessment of the costs to property owners as determined on a linear front foot basis. The remaining costs of the improvements shall be paid from the general city finds.

CORNER LOTS:

Corner lots with side yards abutting city streets shall be granted a 25% reduction of their assessed costs as determined on a linear foot basis measured against the side yard.

DULY ADOPTED BY THE CITY COUNCIL THIS 7th DAY OF NOVEMBER, 2005.