§ 421.50. Housing improvement fee.

(a) The city may, by resolution adopted in accordance with the petition, hearing and notice procedures required under the Housing Improvement Act, impose a fee on the housing units within the Calhoun Place Housing Improvement Area, at a rate, term or amount sufficient to produce revenues required to provide the housing improvements (hereinafter referred to as the "housing improvement fee"), subject to the terms and conditions set forth in this section.

(b)

Any housing improvement fee shall be imposed on the basis of each unit's share of common expenses as defined in the Declaration for Calhoun Place Condominium Common Interest Community Number 1227 (the "declaration"). The council specifically finds that such allocation is more fair and reasonable than a fee based upon the tax capacity or square footage of each housing unit, because the association and unit owners themselves have determined that the percentage share for each unit set forth in the declaration is an equitable means of allocating common costs such as the housing improvements.

(c)

The housing improvement fee shall be imposed and payable for a period no greater than nineteen (19) years from January first of the first year fees are due and payable.

(d)

Any housing improvement fee shall not be prepayable except as otherwise specified in the resolution imposing the housing improvement fee.

(e)

The resolution imposing the housing improvement fee may provide that any fee not prepaid by the housing unit owner shall be deemed to include interest on unpaid housing improvements costs at a rate to be calculated at the time of bond closing by the city finance officer.

(f)

The housing improvement fee shall be collected at the same time and in the same manner as provided for payment and collection of ad valorem taxes, in accordance with Section 428A.15 of the Housing Improvement Act and Minnesota Statutes, Section 428A.05. As set forth in Section 428A.14, subd. 2 of the Housing Improvement Act, the housing improvement fee is not included in the calculation of levies or limits on levies imposed under any law or charter.

(g)

The housing improvement fee shall not exceed the maximum annual amount specified in the notice of public hearing regarding the approval of such fee; provided, however, that the housing improvement fee may be reduced after approval of the resolution setting the housing improvement fee, based on the actual bond issuance terms in the manner specified in such resolution. (2013-Or-006, § 1, 2-8-13; 2013-Or-034, § 1, 3-29-13)