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HomeMy WebLinkAboutItem 09Supportirol Information • Tables cornparin Date: 2 April 2012 Item No. RESOLUTION CALLING A PUBLIC HEARING ON PROPOSED ASSESSMENTS FOR CITY IMPROVEMENT PROJECT 12 -02 Proposed Action Staff recommends adoption of the following motion: Motion to approve the attached resolution calling a public hearing on proposed assessments for City Improvement Project 12 -02. Approval of the resolution will result in a special assessment public hearing for City Improvement Project 12 -02 Overview At its January 3, 2012 meeting, the Lakeville City Council held a public hearing notifying residents as to the pending assessment amount. At the conclusion of the hearing, City Council ordered the improvement and authorized the preparation of plans and specifications. Bids for the project were received on March 26, 2012. Based on the low bid prices received, the total cost for this project is expected to be $ 8,138,620. This amount is Tess than what was presented in the feasibility report, resulting in lower assessments to the benefitting property owners. Staff has reviewed the bids and proposed special assessments and recommends approval of the resolution. Primary Issues to Consider ( See attache • Project Costs: Total • Project Costs: Financing • Project Costs: Feasibility Report vs. Bid Results • Special Assessments: Terms and conditions • Special Assessments: Feasibility Report vs. Bid Results istophe etree Public Works Director Bonds, State Aid Bridge Financial Impact: $8,138,620.00 Budgeted: Yes _ Source: Funds and Assessments Related Documents (CIP, ERP, etc.): CIP g, and proposed assessments are attached. Notes: Road Reconstruction Bonds and Assessment in accordance with City policies. • Project Costs: Total • Project Costs: Financing Street and Storm Sewer Improvements Water Main Replacement Sanitary Sewer Repairs 168th Street Bridge Replacement (est.) Total • Project Costs: City of Lakeville CIP Funds Special Assessments Water Operating Fund Sanitary Sewer Fund State Aid Bridge Bond Total Primary Issues to Consider Street Contract Bridge Replacement Engineering Debt Issuance Other Total Project Costs Total $ 6,765,747 $ 1,005,686 $ 35,753 $ 331,434 $ 8,138,620 Feasibility Report vs. Bid Results Feasibility Report $ 4,440,000 $ 2,960,000 $ 1,236,000 $ 8,636,000 Total $ 6,029,642 $ 310,000 $ 981,550 $ 67,200 $ 750,228 $ 8,138,620 City of Special Lakeville Assessed $ 4,058,268 $ 2,707,479 1,005,686 $ - $ 35,753 - $ 60,085 31,349 $ 5,159,792 $ 2,738,828 Bid Results Reduction State Aid Bridge Bond $ 240,000.00 $ 240,000.00 The sanitary sewer costs ($35,753) will be financed from the Sanitary Sewer Operating Fund. The water main improvements ($1,005,686) will be financed from the Water Operating Fund. The 168 Street Bridge culvert replacement will be funded using a combination of State Aid Bridge Bond Funds ($240,000), City taxes (estimated at $13,062 for the existing bridge removal plus $47,023 as the City's 60% share of the estimated $78,372 bridge approach) and special assessments (estimated at $31,349 for the 40% specially assessed portion of the for the estimated $78,372 bridge approach). The City's share of cost for the improvement will be financed with a property tax levy in 2013 — 2015. $ 4,118,353 -7.2% $ 2,738,828 -7.5% $ 1,005,686 -18.6% $ 35,753 N/A $ 240,000 N/A $ 8,138,620 -5.8% • Special Assessments: Terms and conditions • Interest rate: 3.5% • Term: 20 years • First payment due with taxes payable 2013 • Senior Citizen deferments are available for those who qualify. • Special Assessments: Feasibility Report vs. Bid Results Feasibilty Bid Results Reduction Report Single Family Assessment Rate $ 4,498.67 $ 4,162.36 -7.5% RESOLUTION CALLING A PUBLIC HEARING ON PROPOSED ASSESSMENTS FOR CITY IMPROVEMENT PROJECT 12 -02 WHEREAS, pursuant to the direction of the City Council, the City Clerk has prepared a proposed assessment roll on the cost of Improvement Project 12 -02 within portions of Cedar Highlands 1S Cedar Highlands 2 Cedar Highlands 3 Cedar Highlands 4 Cedar Highlands 5 Dodd Park, Donnay's College Park, Donnay's College Park 2 Donnay's Valley Park, Donnay's Valley Park 2 Donnay's Valley Park 3 Donnay's Valley Park 4 Donnay's Valley Park 5 Addition, and properties along Gerdine Path between 170 Street West and Dodd Boulevard. NOW, THEREFORE, BE IT RESOLVED by the City Council of Lakeville, Minnesota: 1. A hearing shall be held on the Monday, May 7, 2012 at the Lakeville Council Chambers, 20195 Holyoke Avenue, at 7:00 p.m. to pass upon such proposed assessment and, at such time and place, all persons owning property affected by such improvement will be given an opportunity to be heard with reference to such assessment. 2. The City Clerk is hereby directed to cause a notice of the hearing on the proposed assessment to be published once in the official newspaper at least two weeks prior to the hearing, and she shall state in the notice the total cost of the improvement. She shall also cause mailed notice to be given to the owner of each parcel described in the assessment roll not less than two weeks prior to the hearing. 3. The owner of any property so assessed may, at any time prior to certification of the assessment to the county auditor, pay the whole of the assessment on such property, with interest accrued to the date of payment, to the City of Lakeville, except that no interest shall be charged if the entire assessment is paid within 30 days from the adoption of the assessment. The property owner may at any time thereafter, pay to the City of Lakeville the entire amount of the assessment remaining unpaid, with interest accrued to December 31 of the year in which such payment is made. Such payment must be made before December 20 or interest will be charged through December 31 of the succeeding year. ATTEST: Charlene Friedges, City Clerk CITY OF LAKEVILLE RESOLUTION NO. APPROVED AND ADOPTED this 2 day of April, 2012. CITY OF LAKEVILLE Mark Bellows, Mayor