10/15/1979 Meeting Minutes - Laserfiche WebLink

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~~G MINUTES OF A PUBLIC HEARING Village of Mayfield October 15, 1979 The Council of the Village of Mayfield met for a Public Hearing on Monday, October 15, 1979 in the Village Hall at 8:20 P.M. Council President, Vince Busa presided. Rol_1 Call: Present: Messrs., Bennett, Busa, Flynn, Grogan and Miss Trask Absent: Mr. Boger and Mrs. Hanus Also present were: Mayor Beebe, Mr. Feneli, Mr. Beatty, Mr. L. Hovancsek Mr. Busa stated that the purpose of the Public Hearing was to hear the pros and cons to the new assessment figure for the work to be done on Echo Drive. Mr. Feneli stated that Council adopted the decision of the Equalization Board. By law, if the bids received for the work were over 15/ of the Engineer's estimate, a contract could not be awarded without further action from Council. The Public Hearing is to allow the residents to express their opinions on the higher figure which is around $5600.00 per unit. A resident of Echo Drive questioned the interest rate to be used and'' if spread over a 10 year period, just how much money is it going to cost the residents. - clarification was made on the figure designated for interest in the Engi- neer's estimate was for a one year period. Mr. Beatty stated that the exact interest rate was not available but he would estimate it to be around 7/. It would be much lower than an individual could borrow the money from their local bank. The interest. would be computed on the unpaid balance. A resident questioned if the new assessment figure based on the lowest bid received would go to the residents for their acceptance or rejection. Mr. Feneli stated that actual amount was not the issue previously put before the residents; it was the method of determining the assessment. Mr. Powers, 7105 Wilson Mills Road, asked what legal option did he have if he objected to this. Mr. Feneli stated he could not advise him but he would say he could pursue litigation. Mr. Busa stated that the general opinion for the high bids received was due to the condition of the weather when construction would take place and also the condition of the road when viewed, due to the excessive rains.