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Mr. Bornheim also asked about the payment schedule, and Mrs. <br />Gentile explained that the payment schedule, as it stands right <br />now, gives the property owner 2 years in which to pay the <br />assessment. The first payment would be due one year after the <br />project is completed and the Board has approved the final <br />assessment which reflects the actual cost of the project. The <br />property owners can pay off the assessment within 90 days without <br />incurring any interest,�or in two annual installments at 12% <br />interest. Mrs. Gentile advised that we are hoping to go to <br />contract by the end of this summer or in the fall. <br />Richard Letsinger, president of Number Fourteen Corporation, <br />noted that it isn't that they don't want the road, it is just <br />that the cost is startling. He didn't see much use in arguing <br />about this, since they do own approximately 50% of the frontage <br />along that road, but he was relieved to hear about the payment <br />plan. <br />There being no others who wished to be heard, the Chairman <br />closed the Public Hearing. <br />ON MOTION by Commissioner Scurl..ock, SECONDED by <br />Commissioner Wheeler, the Board unanimously approved <br />staff's recommendation and adopted Resolution 90-72, <br />confirming the assessment roll for certain paving and <br />drainage improvements to to 85th Avenue and 85th Court <br />in Paradise Park Subdivision. <br />ASSESSMENT ROLL IS ON FILE IN THE OFFICE OF THE CLERK TO THE <br />35TH AVENUE FROM 4TH STREET TO 6TH STREET <br />Michelle Gentile of Engineering read aloud the following <br />petition received just prior to this meeting from the residents <br />of 35th Avenue requesting a payment time of five years. <br />►SUN`. 5 1990 47 Eaoo� �� f',,;E 4u <br />