HomeMy WebLinkAboutItem 08.d
Date: 18 April, 2016 Item No.
RESOLUTION ADOPTING ASSESSMENTS FOR
CITY IMPROVEMENT PROJECT 16-02
Proposed Action
Staff recommends adoption of the following motion: Motion to approve the attached
Resolution Adopting Assessments for City Project 16-02.
Overview
Based on the bid price received, the total cost for this project is expected to be $12,105,408.
The total cost to be specially assessed to the affected property owners is $3,018,419.73.
The assessment rates are as follows:
Assessment Rate
Area A (Front Foot) 126.26 $
Area B (Front Foot) 108.88 $
Area C (Per Parcel) 132,967.42 $
Area D (Per Parcel) 73,245.04 $
Area E (Per Single Family Unit) 3,725.30 $
Area F (Per Single Family Unit) 3,826.72 $
Area G (Per Single Family Unit) 2,540.24 $
Staff has received approximately 12 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 (See attached)
• Special Assessments: Terms and conditions
• Special Assessments: Feasibility Report vs. Bid Results
Supporting Information
• Tables comparing the proposed assessments and outlining the assessment terms are
attached.
Financial Impact: $ Budgeted: Y☒ N☐ Source:
Related Documents: (CIP, ERP, etc.):
Envision Lakeville Community Values: Good Value for Public Services
Report Completed by: Monica Heil, Operations and Maintenance Engineer
3,018,419.73 429 and Utility Bonds
2
Primary Issues to Consider
• Special Assessments: Terms and Conditions
• Interest rate: 4.5%
• Term: 20-years
• First payment due with taxes payable 2017
• Senior Citizen deferments are available for those who qualify.
• Special Assessments: Feasibility Report vs. Bid Results
Feasibilty
Report Bid Results Reduction
Area A (Front Foot) 130.61 $ 126.26 $ -3.33%
Area B (Front Foot) 144.36 $ 108.88 $ -24.58%
Area C (Per Parcel) 132,519.47 $ 132,967.42 $ 0.34%
Area D (Per Parcel) 67,980.10 $ 73,245.04 $ 7.74%
Area E (Per Single Family Unit) 4,033.95 $ 3,725.30 $ -7.65%
Area F (Per Single Family Unit) 4,029.14 $ 3,826.72 $ -5.02%
Area G (Per Single Family Unit) 2,573.05 $ 2,540.24 $ -1.28%
3
CITY OF LAKEVILLE
RESOLUTION NO._________
RESOLUTION ADOPTING ASSESSMENTS FOR
IMPROVEMENT PROJECT 16-02
CITY IMPROVEMENT PROJECT 16-02
AMOCO ADDITION, ARGONNE PARK, SOUTHFORK CENTER 1 ST – 3RD
ADDITIONS, WOODRIDGE ESTATES, WOODRIDGE ESTATES 2 ND – 4TH
ADDITIONS, RAVEN LAKE 1 ST ADDITION, LAKEVIEW HEIGHTS,
LAKEVIEW HEIGHTS 2 ND ADDITION, LAKERIDGE, GREAT OAK SHORES,
GREAT OAK SHORES POINT, MARION HILLS 1 ST – 2ND ADDITIONS, FOX
MEADOWS, WILSON ADDITION, FAMILY OF CHRIST LUTHERAN
CHURCH ADDITION, ANTLERS PARK, MARION PINES, MARION PINES 3 RD
ADDITION, LENIHANS LOTS ANTLERS PARK, KIRK MEYER ADDITION,
BASSETTS 1 ST – 3RD ADDITIONS, WAGNERS VIEW, GREERS
REARRANGEMENT, ORCHARD MEADOWS OF LAKEVILLE, ANTLERS
PARK MINNESOTA SUBDIVISION OF LOT 1 BLOCK 23 AND ANTLERS
PARK SUBDIVISION OF BLOCKS 24 AND 26.
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 within
portions of Amoco Addition, Argonne Park, Southfork Center 1 st – 3rd Additions, Woodridge
Estates, Woodridge Estates 2 nd – 4th Additions, Raven Lake 1 st Addition, Lakeview Heights,
Lakeview Heights 2 nd Addition, Lakeridge, Great Oak Shores, Great Oak Shores Point, Marion
Hills 1 st – 2nd Additions, Fox Meadows, Wilson Addition, Family of Christ Lutheran Church
Addition, Antlers Park, Marion Pines, Marion Pines 3 rd Addition, Lenihans Lots Antlers Park,
Kirk Meyer Addition, Bassetts 1 st – 3rd Additions, Wagners View, Greers Rearrangement,
Orchard Meadows of Lakeville, Antlers Park Minnesota Subdivision of Lot 1 Block 23 and
Antlers Park Subdivision of Blocks 24 and 26.
NOW, THEREFORE, BE IT RESOLVED by the City Council of Lakeville,
Minnesota:
1. Such proposed assessment No. 1338 in the amount of $3,018,419.73 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, 2017. The assessment shall bear interest at the
rate of 4.5% percent per annum from November 15, 2016. To the first installment shall
be added interest on the entire assessment from November 15, 2016 until December 31,
4
2017. 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 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 Treasurer, except that
no interest shall be charged if the entire assessment is paid before November 15, 2016.
The owner of any property at any time thereafter may pay to the City Treasurer 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 November 15 th
or interest will be charged through December 31 of the succeeding year.
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.
ADOPTED by the Lakeville City Council this 18th day of April, 2016.
CITY OF LAKEVILLE
_________________________________
Matt Little, Mayor
ATTEST:
_____________________________
Charlene Friedges, City Clerk