Council approves N. Chestnut special assessments

     During the Oct. 7 Monticello City Council meeting, the council adopted the final assessment schedule associated with the N. Chestnut Street Reconstruction Project.

   This action also includes amending, confirming, and levying the assessments to the property owners.

   This project was previously approved as a special assessment project by the council. Action during the recent council meeting "sets forth the per property assessment and includes the approval of notices to be published and mailed to the impacted properties."

   The final assessment also includes any and all "voluntary" work performed by the contractor or city at the request of some of the property owners. Credits toward any work, such as sidewalk replacement within the past 10 years will also be applied. The credit will be reduced by 10 percent for each year of the age of the sidewalk.

   The council also approved the use of TIF (Tax Increment Financing) receipts to cover a portion of the professional fees invoiced by Dorsey & Whitney LLP, the city's bond counsel, in relation to the N. Chestnut Street project.

   TIF funds will cover 30 percent of the total fees invoiced in the amount of $3,985.50. The overall fees totaled $16,294.44.