BROOKINGS – The Brookings City Council will look at levying an assessment for the Christie Heights and Christie Springs additions during its meeting Tuesday.
This assessment dates back to the 2014 Main Avenue South and 26th Street South project and the levying assessment adopted Sept. 22, 2015.
“The resolutions and Memorandum of Understanding between Oakwood Equity LLC dated May 5, 2014, outlined the payment criteria for the assessment. The city has not received the Dec. 31, 2016, payment, and the city is proceeding with collecting the outstanding balance of the assessment,” said an attachment to the agenda, which is available on the city’s website.
The outstanding principal balance totals nearly $446,000, according to the agenda. The attachment breaks down that balance with interest for different parcels and shows the location of the parcels on color-coded maps.
The assessment will be divided into 10 equal annual installments for each parcel. Unless paid within 30 days after the date of mailing of a statement of account by the city, they will be collected by the city in accordance with state law.
“Interest of 10 percent per annum shall accrue on the unpaid balance of the assessment for a maximum of 10 years,” according to the attachment.
The council this week will also authorize the mayor to sign a satisfaction of mortgage executed by the Area Development Corporation and release the debt.
“In the 1980s, the city entered into conduit debt arrangements with the Area Development Corporation in the amount of $300,000 and $480,000. Based on available city records, this debt has been paid off; however, the Satisfaction of the Mortgages was not filed to formally discharge the debt,” according to the attachment.
Also on Tuesday, the council will look at the city’s 2016 unaudited annual financial report, which is a preview to the audited financial report, set to be seen in April.
The council will consider installing stop signs on Fifth Street at the intersection with 13th Avenue.
In the consent agenda, the council will look at a resolution to provide for the collection of sidewalk assessments for the annual concrete project and homeowner trip hazards that weren’t repaired in 2015. The area is east of Medary Avenue South and south of Orchard Drive and the 2016 sidewalk area, which is east of Medary Avenue South and between Sixth Street and Orchard Drive.
Also on the consent agenda, the council plans to retain Civil Design Inc. for the city’s bridge re-inspection program for 2017.
“The City of Brookings has three bridges and one box culvert in the program which are scheduled for inspection in 2017,” according to the attachment.
“The South Dakota Department of Transportation provides for 80 percent funding for the inspection and the city provides the 20 percent match, which will be paid out of the Drainage Fund. The average cost of the inspection is approximately $5,000, with the city match being approximately $1,000,” according to the attachment.
Contact Jodelle Greiner at jgreiner@brookingsregister.com.
