HomeMy WebLinkAboutItem 07.d
Date: 16 May, 2016 Item No.
RESOLUTION ADOPTING ASSESSMENTS FOR
CITY IMPROVEMENT PROJECT 16-04
HIGHVIEW AVENUE
Proposed Action
Staff recommends adoption of the following motion: Motion to approve a Resolution Adopting
Assessments for City Improvement Project 16-04.
Overview
Based on the bid prices received, the total cost for this project is expected to be $324,180. The
total cost to be specially assessed to the affected property owners is $129,672.01.
The assessment rate is as follows:
Assessment Rate
Frmnt Fmmt Assessment Rate 26.28$
Staff has received one e-mail concerning this assessment and the hearing.
Primary Issues to Consider (See attached)
• Special Assessments: Terms and Cmnditimns
• Interest rate: 4.5%
• Term: 20-years
• First payment due with taxes payable 2017.
• Special Assessments: Feasibility Repmrt vs. Bid Results
Frm nt F mm t Assessment Rate 33.76$ 26.28$ -22.2%
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
129,672.01
429 Bonds
2
CITY OF LAKEVILLE
RESOLUTION NO._________
RESOLUTION ADOPTING ASSESSMENTS FOR
CITY IMPROVEMENT PROJECT 16-04
HIGHVIEW AVENUE FROM CSAH 70 (215TH STREET) TO THE SOUTH CITY
LIMITS
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 Highview
Avenue from CSAH 70 (215th Street) to the south City limits.
NOW, THEREFORE, BE IT RESOLVED by the City Council of Lakeville,
Minnesota:
1. Such proposed assessment No. 1339 in the amount of $129,672.01, 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,
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 15th
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.
3
ADOPTED by the Lakeville City Council this 16th day of May, 2016.
CITY OF LAKEVILLE
_________________________________
Matt Little, Mayor
ATTEST:
_____________________________
Charlene Friedges, City Clerk
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2016 Highview AvenueImprovement ProjectParcel Assessment
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Project Location
Assessment Parcels
South Lakeville Limits
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C.H. CARPENTER LUMBER COMMERCIAL 584.93 26.28 $ $15,369.30
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MAC EXEMPT 948.7 26.28 $ $24,927.53
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MAC EXEMPT 44.69 26.28 $ $1,174.25
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CROWN CORK & SEAL CO.INDUSTRIAL 417 26.28 $ $10,956.87
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PROGRESSIVE RAIL INDUSTRIAL 400.02 26.28 $ $10,510.71
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INTERSTATE LAKEVILLE PROPERTY LLC INDUSTRIAL 614.55 26.28 $ $16,147.58
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