HomeMy WebLinkAboutItem 09
Date:
RESO
Propose
Staff rec
resolutio
02.
Approva
Improve
Overview
At its No
residents
Council o
Bids for t
total cos
what wa
assessme
Staff has
the resol
Primary
Proje
Proje
Proje
Spec
Spec
Support
Table
________
Monica H
Operatio
Financial I
Related Do
Communit
16 March 20
OLUTION CA
ed Action
commends
on calling a p
l of the re
ment Projec
w
ovember 17,
s as to the
ordered the
the project w
st for this pr
as presented
ent amount
s reviewed t
lution.
Issues to C
ect Costs: To
ect Costs: Fin
ect Costs: Fe
ial Assessme
ial Assessme
ting Inform
es comparin
__________
Heil, PE
ons and Main
mpact: $
ocuments (CIP
ty Values:
015
ALLING A PU
IM
adoption o
public heari
esolution w
ct 15-02.
, 2014 meet
pending a
improveme
were receive
roject is exp
d in the feas
s that were
the bids and
Consider (Se
otal
nancing
asibility Rep
ents: Terms
ents: Feasib
ation
ng costs, fina
_________
ntenance En
$23,227,256
P, ERP, etc.):
Good Valu
UBLIC HEAR
MPROVEME
of the follow
ng on propo
will result in
ting, the Lak
assessment
ent and auth
ed on March
pected to b
sibility repo
estimated la
d proposed
ee attached
port vs. Bid R
and conditi
ility Report v
ancing, and
ngineer
Budge
es for Public S
RING ON PR
ENT PROJEC
wing motio
osed assessm
n a special
keville City C
amount. A
horized the
h 6, 2015. Ba
e $23,227,2
ort, resulting
ast fall.
special asse
d)
Results
ons
vs. Bid Resu
proposed as
eted: Yes
Services
Ite
ROPOSED A
CT 15-02
on: Motion
ments for C
l assessmen
Council held
At the conc
preparation
ased on the
256. This am
g in a nomin
essments an
ults
ssessments
Source:
em No.
ASSESSMEN
n to approv
ity Improve
nt public h
d a public h
clusion of t
n of plans an
e low bid pri
mount is $1
nal reductio
nd recomme
are attache
429 Bonds &
NTS FOR CIT
ve the atta
ment Projec
hearing for
hearing noti
he hearing,
nd specificat
ces received
42,924 less
on to the sp
ends approv
ed.
& Utility Funds
TY
ached
ct 15-
City
fying
, City
tions.
d, the
than
pecial
val of
s
2
Primary Issues to Consider
Project Costs: Total
Total
Street Contract 18,664,497$
Engineering 1,958,250$
Debt Issuance 146,502$
Other 2,508,007$
Total Project Costs 23,277,256$
Project Costs: Financing
Total City of
Lakeville
Special
Assessed
Street & Storm Sewer Improvements 15,925,533$ 9,560,320$ 6,365,213$
Sanitary Sewer Repairs 200,375$ 200,375
Watermain Replacement 7,151,348$ 7,151,348$
Total 23,277,256$ 16,912,043$ 6,365,213$
City of Lakeville share of cost for street and storm sewer improvements
($9,560,319) will be financed with debt; the principal and interest payments
will be repaid with property tax levies commencing in 2016. The water main
improvements ($7,151,348) will be financed from the Water Operating Fund.
The sanitary sewer improvements will be funded by the Sanitary Sewer
Operating Fund ($200,375).
Project Costs: Feasibility Report vs. Bid Results
Feasibility
Report Bid Results Reduction
Property Taxes 9,848,535$ 9,560,320$ -2.9%
Special Assessments 6,379,540$ 6,365,213$ -0.2%
Water Operating Fund 7,048,835$ 7,151,348$ 1.5%
Sanitary Sewer Fund 143,270$ 200,375$ 39.9%
Total 23,420,180$ 23,277,256$ -0.6%
3
Special Assessments: Terms and Conditions
Interest rate: 4.0% (20-years) and 4.5% (29-years)
Term: 20- or 29-years
First payment due with taxes payable 2016 for Phase 1
Improvements, taxes payable 2017 for Phase 2 Improvements
Senior Citizen deferments are available for those who qualify.
Special Assessments: Feasibility Report vs. Bid Results
Feasibilty
Report Bid Results Reduction
Single Family Assessment Rate 8,116.46$ 8,098.24$ -0.2%
Townhome Assessment Rate 4,058.23$ 4,049.12$ -0.2%
4
CITY OF LAKEVILLE
RESOLUTION NO._________
RESOLUTION CALLING A PUBLIC HEARING ON PROPOSED ASSESSMENTS FOR
CITY IMPROVEMENT PROJECT 15-02
WHEREAS, pursuant to the direction of the City Council, the City Clerk has prepared a
proposed assessment roll on the cost of Improvement Project 15-02 within portions of
Foxborough 1st , 2nd and 3rd Additions, Highview Heights 1st- 6th and 8th Additions, Chapel Hills
1st, 2nd and 3rd Additions, Cedarglen 1st - 3rd and 4th Additions, Goodview Estates, Cedar 160
Addition and Carroll 1st Addition, City Improvement Project 15-02; and
NOW, THEREFORE, BE IT RESOLVED by the City Council of Lakeville, Minnesota:
1. A hearing shall be held on Monday, April 6, 2015 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.
APPROVED AND ADOPTED this 16th day of March, 2015.
CITY OF LAKEVILLE
_________________________________
M a t t L i t t l e , M a y o r
ATTEST:
_____________________________
Charlene Friedges, City Clerk