HomeMy WebLinkAboutItem 07Date: 2 May 2013 Item No.
RESOLUTION ADOPTING ASSESSMENTS FOR
CITY IMPROVEMENT PROJECT 13 -02
PORTIONS OF DONNAY'S COLLEGE PARK, DONNAY'S VALLEY PARK, DONNAY'S
VALLEY PARK 2" ADDITION, DONNAY'S VALLEY PARK 6TH ADDITION,
SOUTHBLUFF, CLAY'S ACRES, DODD TERRACE AND THE MEADOWS
Proposed Action
Staff recommends adoption of the following motion: Motion to approve the attached
resolution adopting assessments for City Project 13 -02
Overview
Based on the low bid prices received, the total cost for this project is expected to be
$7,419,734.00 as compared to $8,508,000 presented in the feasibility report. The total cost to
be specially assessed to the affected property owners is $2,089,795.00.
The single family unit assessment rates are as follows:
Valley Park
$3,235.84
204 ' Street
$5,470.46
Clay's Acres with existing concrete curb and gutter
$5,084.00
Clay's Acres without existing concrete curb and gutter
$6,040.04
Staff has received approximately 8 phone calls concerning this assessment and the hearing.
The majority have called with questions regarding prepayment or deferment of their
assessment.
Primary Issues to Consider
• 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
SupRortin8 Information
• Tables comparing costs, financing, and proposed assessments are attached.
Christop r etree
Public VV6& Director
Financial Impact: $7,419,734.00 Budgeted:
Related Documents (CIP, ERR etc.):
Notes:
Yes Source: 429 Bonds & Utility Funds
Primary Issues to Consider
• Project Costs: Total
Total
Street Contract $ 5,879,663
Engineering $ 919,251
Debt Issuance $ 78,494
Other $ 542,326
Total Project Costs $ 7,419,734
Project Costs: Financing
Total
City of
Special
MCES I & I
Lakeville
Assessed
Grant
Street & Storm Sewer Improvements
$
4,821,005
$ 2,731,210
$ 2,089,795
$ -
Sanitary Sewer Repairs
$
166,753
98,151
$ 68,602.00
Watermain Replacement
$
2,431,976
$ 2,431,976
$ -
Total
$
7,419,734
$ 5,261,337
$ 2,089,795
$ 68,602.00
The City share of cost for street and storm sewer improvements will be financed
with the issuance of General Obligation Improvement Bonds. The debt will be
repaid with tax levies with even annual payments over a 10 year period; the
average debt payment and tax levy will be approximately $325,102.
The water main improvements ($2,431,976) will be financed from the Water
Operating Fund. A portion of the sanitary sewer improvements will be funded
using Inflow and Infiltration mitigation grant dollars received from the
Metropolitan Council Environmental Services ($68,602). The remaining sanitary
sewer improvements will be funded by the Sanitary Sewer Operating Fund
($98,151).
s
Project Costs: Feasibility Report vs. Bid Results
Feasibility
Report
City of Lakeville CIP Funds
Special Assessments
Water Operating Fund
Sanitary Sewer Fund
MCES I & I Grant
Total
$ 3,245,950
$ 2,611,600
$ 2,522,150
$ 128,300
$ 8,508,000
Bid Results
$ 2,731,210
$ 2,089,795
$ 2,431,976
$ 98,151
$ 68,602
$ 7,419,734
Reduction
-15.9%
- 20.0%
-3.6%
-23.5%
N/A
-12.8%
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• Special Assessments: Terms and conditions
• Interestrate: 3.3%
• Term: 20 years
• First payment due with taxes payable 2014
• Senior Citizen deferments are available for those who qualify.
• Special Assessments: Feasibility Report vs. Bid Results
Reduction
-25.5%
- 10.46%
N/A
- 14.46%
Feasibilty
Bid Results
Report
Single Family Assessment Rate (Valley Park)
$ 4,343.95
$
3,235.84
Single Family Assessment Rate (Clay's Acres)
$ 6,745.70
$
6,040.04
Single Family Assessment Rate (Isle Avenue CDS)
N/A
$
5,084.00
Single Family Assessment Rate (204th Street)
$ 6,395.27
$
5,470.46
Reduction
-25.5%
- 10.46%
N/A
- 14.46%
CITY OF LAKEVILLE
RESOLUTION NO.
RESOLUTION ADOPTING ASSESSMENTS FOR
CITY IMPROVEMENT PROJECT 13 -02
PORTIONS OF DONNAY'S COLLEGE PARK, DONNAY'S VALLEY PARK,
DONNAY'S VALLEY PARK 2ND ADDITION, DONNAY'S VALLEY PARK 6TH
ADDITION, SOUTHBLUFF, CLAY'S ACRES, DODD TERRACE AND THE
MEADOWS
WHEREAS, pursuant to proper notice duly given as required by law, the Council
has met, heard and passed upon all objections to the proposed assessment for Portions of
Donnay's College Park, Donnay's Valley Park, Donnay's Valley Park 2nd Addition,
Donnay's Valley Park 6th Addition, Southbluff, Clay's Acres, Dodd Terrace and The
Meadows.
NOW, THEREFORE, BE IT RESOLVED by the City Council of Lakeville,
Minnesota:
1. Such proposed assessment 1304 in the amount of $2,089,795.00, a copy of which
is attached hereto and made a part hereof, is hereby accepted and shall constitute the
special assessment against the lands named therein, and each tract of land therein included
is hereby found to be benefited by the proposed improvement in the amount of the
assessment levied against it.
2. Such assessments shall be considered payable in equal annual principal
installments over a period of twenty (20) years, the first of the installments to be payable
on or before the first Monday in January 2014, and shall bear interest at the rate of 3.3%
percent per annum. To the first installment shall be added interest on the entire
assessment from January 1, 2014 until December 31, 2014. To each subsequent installment
when due shall be added interest for one year on all unpaid installments.
3. The owner of any property so assessed may, at any time prior to December 31,
2013, pay the assessment on such property in whole or in part without interest to the City
of Lakeville. Thereafter, in 2014 and future years, property owners may pay to the City of
Lakeville or Dakota County the entire amount of the assessment remaining unpaid. Such
payment must be made before November 15 of the year in which such payment is made, or
interest will be charged through December 31 of the succeeding year.
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4. The City Clerk shall forthwith transmit a certified duplicate of this assessment to
the County Auditor to be extended on the proper tax lists of the county, and such
assessments shall be collected and paid over in the same manner as other municipal taxes.
DATED this 6th day of May 2013.
CITY OF LAKEVILLE
Matt Little, Mayor
ATTEST:
Charlene Friedges, City Clerk
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