DATE: March 8, 2018
TO: Members of the Housing & Redevelopment Authority
FROM: Janine Atchison, Housing Coordinator
Title
2018 Street Assessment Assistance Program
Body
SUMMARY AND ACTION REQUESTED:
2018 street assessment types and areas.
BACKGROUND:
The objective of the City of Northfield Street Assessment Assistance Program is to lessen the financial burden of the 2018 street assessments for income eligible households in Northfield, Minnesota. Financial assistance up to $3,000 may be provided to assist with required street assessment expenses for income-eligible homeowners. This assistance is in the form of a grant and will not need to be repaid to the City. This program is funded with tax levy dollars awarded to the HRA.
Eligibility:
* The owner's income must be below 80% of the area median income as established by HUD for Rice County.
* The homeowner must utilize the assessed property as their primary residence. Properties that are owned but lived in by a third party are NOT eligible for assistance.
* Properties currently for sale, have been for sale or are in escrow anytime since Feb 15, 2018, are not eligible for this program.
* Homeowners who are in default of their property taxes are NOT eligible unless a written repayment plan has been accepted by Rice County.
Financial Assistance:
The maximum assistance shall not exceed $3,000. Assessment amounts to be awarded are based on the type of street project being completed and the assessment total for the individual property. The following terms apply:
* Full Reconstruction - 1/2 of assessment or $3,000, whichever is less
* Street Reclamation - 1/2 of assessment or $2,500, whichever is less
* Mill and Overlay - 1/2 of assessment or $2,000, whichever is less
* Overlay- 1/2 of assessment or $1,500, whichever is less
The award is paid directly to the City. The homeowner is responsible for paying the remaining balance.
ANALYSIS:
The HRA has budgeted $40,000 for the 2018 Street Assessment Assi...
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