Title
Resolution to Amend Previously Approved R-388-8-07 Resolution Authorizing Water Improvement Charges for 196 Orchard Hills Court ($8,578.22)
Memorandum
Attached for your approval is a resolution amending the payment terms authorized in the resolution for this property approved on August 20, 2007.
This property annexed to the City of Ann Arbor on June 20, 1994, per the State of Michigan in a letter dated March 10, 1995. The property has changed ownership multiple times since notice of the outstanding improvement charges was initially provided. The current owner of this property paid connection charges and actively connected to the City's water service on May 15, 2006. In the August action Council authorized levy of the historical improvement charges with a 8 year payment schedule and 7.2% interest. This action extends the payment term to 15 years at zero percent interest in recognition of the extenuating circumstances around the change in property ownership and notice of the outstanding property obligation for improvement charges.
The approval of this resolution will amend the portion of the previous resolution that specifices the number of installments, so as not to change the resolution number assigned, nor the date of approval. Your approval of this resolution will allow us to revise the associated invoice that is pending until these details are corrected.
Staff
Prepared by: Beverly J. Selvig, Management Assistant, Public Services
Reviewed by: Sue F. McCormick, Public Services Administrator
Body
Whereas, Council has previously approved a resolution authorizing water improvement charges for 196 Orchard Hills Court;
Whereas, We have been requested to change the payment terms to allow for 15 installments and zero percent interest; and
Whereas, Council approval of this resolution results in amendment of the previous resolution so that the resolution number assigned and the approval date do not change;
RESOLVED, That Council amend resolution R-388-8-07 approved on August 20, 2007, as follows:
ยท 3. That this improvement charge is divided into 815 equal installments; the first to be due on October 4, 2007January 17, 2008, and the 714 subsequent installments to be due on June 1 of each and every year thereafter, with the deferred installments of the improvement charge to bear interest at the rate of 7.2 % 0% per annum commencing October 4, 2007January 17, 2008;
RESOLVED, That the City Clerk is directed to make all necessary changes in the minutes and resolutions in accordance with this resolution; and
RESOLVED, That the Public Services Area be directed to send a copy of this resolution amending Resolution R-388-8-07 by first class mail to the owners of the property and to have this resolution promptly recorded in the office of the Register of Deeds of Washtenaw County, Michigan.