HomeMy WebLinkAboutResolution No. 217-25 - Resolution - 2025 Non-Water Quality Protection Program WQPP Special Assessment Interest Rate
RESOLUTION
Approving the Assessment Interest Rate for Development Charges.
WHEREAS, the non-Water Quality Protection Program development charge is the
interest rate charged on special assessments for development charges.
WHEREAS, setting the interest rate on non-Water Quality Protection Program (WQPP)
st
development charge assessments requires an annual review of the rate by August 1 of
each year.
WHEREAS, the Council set the 2024-2025 WQPP development charge assessments at
4.50%, and
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of
Rochester that the City does hereby adopt an interest rate on non-WQPP special
assessments in the amount of 5.00% for the period of August 1, 2025 - July 31, 2026.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS __________ DAY OF _______________, 2025.
___________________________________
PRESIDENT OF SAID COMMON COUNCIL
ATTEST: __________________________
CITY CLERK
APPROVED THIS _____ DAY OF ______________________, 2025.
_
__________________________________
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)