HomeMy WebLinkAbout8.a. Gergen Deferment Agreement, Shannon Parkway Improvements, City Project #171 ! • .�.'���, �a.
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DATE: OCTOBER 12, 1988
T0: MAYOR & COUNCILMEMBERS
C/0 CITY ADMINISTRATQR JILK '
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FROM: CITY ENGINEER/PUBLIC WORKS DIRECTOR HEF� � �
REt ITEriS FOR THE OCTOBER 18, 1988 COUNGIL PiEETING
NEW BUSINES5
G�r en Deferment A re�ement Patca'ect 4�171 Shannon Parkwa Im rovements
It was almost a year ago when I sat down with the Gergen family and t.heir
attarney to negotiate an �asement for the Shannon Farkway right-of-way. In
coming to an agreement with the Gergen family, one consideration was that a
portion of their property lying east of Shannon Parkway (the southwest quarter of
the southeast quarter of Section 31) be deferred. In order for assessments for
this parcel to be deferred, we would either i�ave to prepare an agreement which
would transfer the assessments o€ this parcel to the east half of the Gergens
farm which is located in the southwest quarter of Section 31 . This partie��lar
parcel was included ir► the Green Acres deferment. Qi�r other option is to have
Council to defer the assessments over the non-Green Ac_re piece of property owned
by the Gergens.
The second option is much less cumbersome and could be handled with an agreement
which w�uld treat it much the same as a Green Acre defermPnY. TIi�C tlPlClf; t.hat
the principal would be deferred until sale or develn�ment c�f ttie prc�perty,
h�wever the interest would accrue as with the Green Acres policy.
Recommended action for Council to consider would be to defer assessments for
Project 46171, Shannon Parkway Street Improvements, over 1anc1 the Gergens own
within the southwest quarter of the s�utheast quarter of Sectipn 31 and atithorize
the Mayor and City Clerk ta execute sucly a�;reemer�ts,
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