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01-24CITY OF OTSEGO COUNTY OF WRIGHT STATE OF MINNESOTA RESOLUTION NO.2001-24 RESOLUTION REGARDING DEFERRED ASSESSMENTS- ODEAN AVENUE WHEREAS, after a public hearing and due consideration of public comment and objections to the proposed assessment the City of Otsego has adopted an Assessment Roll for the Odean Avenue improvement project; and WHEREAS, said assessment roll contains certain properties which have been assessed but the said assessment has been deferred; and WHEREAS, it is the intention of the City Council that all properties be assessed equitably and in proportion to the benefit to the property based upon its ability to develop under zoning current at the time of adoption of the Assessment Roll; and WHEREAS, the City recognizes that it may be a burden upon certain property owners to immediately pay more than one assessment against the property; and WHEREAS, the City further recognizes that it would be inequitable to assess property owners with additional development rights at an effectively lower rate simply because they have not taken advantage of those rights, but may do so in the future; and WHEREAS, the City has determined that it is equitable for the property to be subject to assessment at such time as there is increased development of the property, benefiting the property owner. NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO as follows: 1. That those assessments designated as deferred on the adopted Assessment Roll for the Odean Avenue project are deferred until the property is, for purposes of further development, divided, split, subdivided, platted, transferred or sold. It is the intention of the Otsego City Council that deferred assessments be paid only upon further development of the property, and that parcels that retain their current level of use shall not be required to pay any deferred assessment as long as the present level of use continues. Therefore, any transfer within a family, or into a trust, transfer upon death or disability or any other sale or transfer which is not for purposes of changing the current level of property use, is specifically excluded from the requirement that the deferred portion of the assessment be paid in full, with accrued interest. ADAPTED BY THE CITY COUNCIL OF THE CITY OF OTSEGO this 13f day of August, 2001. IN FAVOR: Mayor Fournier, Councilmembers: Vern Heidner, Suzanne Ackerman, Virginia Wendel, Jerry Struthers. OPPOSED: NONE 1 _ I T MI��2K,Ih—W, • Clerk 2 CITY OF OTSEGO Fournier, Mayor