HomeMy WebLinkAboutItem 08.d
Date: April 16, 2018 Item No.
RESOLUTION ADOPTING ASSESSMENTS FOR CITY IMPROVEMENT
PROJECT 18 -03
Proposed Action
Staff recommends adoption of the following motion: Motion to approve the attached
Resolution Adopting Assessments for City Project 18-03.
Overview
Based on the bid price received, the total cost for this project is expected to be
$2,385,380.00. The total cost to be specially assessed to the affected property owners is
$460,680.00.
Based on the bid prices received for the project, the front foot assessment rate will be
$61.66.
Staff has not received any phone calls concerning this assessment or the hearing.
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: $2,385,380.00 Budgeted: Yes Source: 429 Bonds & Utility Funds
Related Documents (CIP, ERP, etc.): CIP
Community Values: Good Value for Public Services
Report Completed by: Chris Petree, Public Works Director
Primary Issues to Consider
• Special Assessments: Terms and Conditions
• Interest rate: 5.0%
• Term: 10-years
• First payment due with taxes payable 2019
• Senior Citizen deferments are available for those who qualify.
• Special Assessments: Feasibility Report vs. Bid Results
Feasibilty
Report Bid Results*Reduction
Front Foot Assessment Rate 77.44$ 61.66$ -20.4%
CITY OF LAKEVILLE
RESOLUTION NO._________
RESOLUTION ADOPTING ASSESSMENTS FOR
CITY IMPROVEMENT PROJECT 18-03
OAK SHORES SEVENTH ADDITION, SUPERAMERICA 3RD ADDITION, JACKSONS 1ST
ADDITION, KENRICK COMMONS, LEOS SOUTH FIRST ADDITION, GOPHER MINI
STORAGE FIRST ADDITION, SECOND, AND THIRD ADDITIONS, HARLEY DAVIDSON
ADDITION, LAKEVILLE MOTOPRIMO, MILLS LAKEVILLE ADDITION, AS WELL AS THOSE
METES AND BOUNDS PARCELS LOCATED ALONG KENRICK AVENUE BETWEEN MAPLE
ISLAND ROAD AND THE SOUTHERLY END OF MILLS LAKEVILLE ADDITION
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 Oak Shores
Seventh Addition, Superamerica 3rd Addition, Jacksons 1st Addition, Kenrick Commons, Leos
South First Addition, Gopher Mini Storage First Addition, Second, and Third Additions, Harley
Davidson Addition, Lakeville Motoprimo, Mills Lakeville Addition, as well as those metes and
bounds parcels located along Kenrick Avenue between Maple Island Road and the southerly end
of Mills Lakeville Addition.
NOW, THEREFORE, BE IT RESOLVED by the City Council of Lakeville, Minnesota:
1. Such proposed assessment No. 1365 in the amount of $460,680.00, 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 ten (10) years, the first of the installments to be payable on or before the first Monday
in January 2019. The assessment shall bear interest at the rate of 5.0% percent per annum from
November 16, 2018. To the first installment shall be added interest on the entire assessment from
November 16, 2018 until December 31, 2019. 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 by November 15, 2018. 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
by 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.
ADOPTED by the Lakeville City Council this 16th day of April 2018.
CITY OF LAKEVILLE
_________________________________
Douglas P. Anderson, Mayor
ATTEST:
_____________________________
Charlene Friedges, City Clerk