What is the current interest rate for special assessments not paid in full?

The City borrows money to fund street reconstruction. The interest rate applied to unpaid portions of the special assessments is 1 percent above the rate at which the City borrows. Historically, that rate was typically between 3 and 4 percent.

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1. How was street reconstruction funded and what is the new method or the change?
2. Why did the City’s Special Assessment Policy change?
3. How would the City phase in the new policy?
4. The street by my house was recently reconstructed and I paid a special assessment. Will I be impacted by a change in the policy?
5. I paid a special assessment. How will I benefit by a change in the policy?
6. Can the City refund residents who have been previously assessed for street reconstruction?
7. Can residents who are still paying off a previous special assessment be taxed differently?
8. What happens with a special assessment that has been levied on a property when it is sold?
9. What is the current interest rate for special assessments not paid in full?
10. Approximately what percentage of single-family homes have paid for a street reconstruction project under the current Special Assessment Policy?
11. How are street reconstruction areas prioritized for reconstruction?
12. Can the city delay the street reconstruction project in my neighborhood so my neighborhood can have a smaller assessment?