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Home My WebLink About6.e. Adopt Assessment Roll - Bella Vista 2nd Street and Utility Improvements, City Project 454 �tROSEMO[.,I1�1T' EXECUTIVE SUMMARY CITY COUNCIL City Council Meeting: November 3, 2014 AGENDA ITEM: Adopt Assessment Roll — Bella Vista 2nd AGENDA SECTION: Street and Utility Improvements, City Consent Project 454 PREPARED BY: Phil Olson, PE, Assistant City Eng' er AGENDA NO. � .� . ATTACHMENTS: Resolution; Assessment Roll; Map APPROVED BY: RECOMMENDED ACTION: Motion to Adopt a Resolution Adopting the Assessment Roll for the Bella Vista 2"d Street and Utility Improvements, City Project 454. BACKGROUND: On May 29, 2014 the City Council executed the subdivision agreement foY Bella Vista 2"`' Street and Utility Improvements, City Project 454. Included in the subdivision agreement was a petition and�vaiveY agreement for the assessment of project costs to the de��eloper, U.S. Home Corporation. A total of $1,102,970.40 is proposed to be assessed to adjacent properties as shown on the attached assessment roll. This amount (sho�vn in detail below) includes construction and trunk fees for Bella Vista 2°`', as well as the assessment for the construction of Bacardi Avenue. Bella Vista 2n� Streets $710,981 Bacardi Avenue $164,304 Storm Trunk $102,563 Sanita Trunk $ 18,103 ��'ater Trunk $107,019 Total $ 1,102,970 The project�vill be assessed over a 5-year period at an interest rate of 3.525%. SUMMARY: Staff recommends that the City Council adopt a resolution adopting the assessment roll as pYesented. (�:A I?�GPRC)J\45d\<;ouncil I tcros\2111-F I 1O3 CC�Adopt;�sscssment Roll.doc� CITY OF ROSEMOUNT DAKOTA COUNTY, MINNESOTA RESOLUTION 2014- A RESOLUTION ADOPTING THE ASSESSMENT ROLL FOR BELLA VISTA 2ND STREET AND UTILITY IMPROVEMENTS CITY PROJECT 454 WHEREAS, on May 29, 2014 the City Council received the petition and waiver agreement to the proposed assessment for the Bella Vista 2°`' Street and Utility Improvements, City Project 454, and has amended such proposed assessment as it deems just. NOW THEREFORE BE IT RESOLVED by the Ciry Council of the Ciry of Rosemount, Minnesota, as follo�vs: (1) Such proposed assessment in the amount of $1,102,970.40, a copy of which is in Clerk's File dated November 3, 2014, is hereby accepted and shall constitute the special assessment against the lands named therein, and each tract of land therein is hereby found to be benefited by the proposed improvement. (2) Such assessments shall be as follows: a. The assessments shall be payable in equal annual installments extending over a period of five (5) years, the first of said installments to be payable �vith general taxes for the year 2014, collectible �vith such taxes during the �-ear 2015. b. To the first installment shall be added interest on the entire principal amount of the assessment from December 3, 2014 until December 31 of the year in �vhich such installment is payable. The interest rate shall be set at either 3.525% per annum or 2 points above the City's bond rate at the time the assessments are certified to Dakota County Property TaYation & Records, �vhichever is less. To each subsequent installment, �vhen due there shall be added interest for one ��ear at said xate on the unpaid principal amount of the assessment. c. The o�vner of any property so assessed ma�� at any time prior to the certification of the assessment or the first installment theYeof to Dakota County Property- TaYation & Records, pay the whole of the principal amount 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 December 3, 2014; and such pxoperty owner may at any time prior to December 31 of any year pay to Dakota County Property- Taxation & Records the entire principal amount of the assessment remaining due with interest accrued to December 31 of the year in �vhich said pay-ment is made. Pa�-ment must be received and posted at the Count�by December 31;postmarks will not be accepted. (3) On December 4, 2014, the City Clerk shall transmit a copy of this assessment roll to Dakota County Property Taxation & Records to be extended on the tax list of the Count��. ADOPTED this 3"' day of No�-ember, 2014. William H. Droste, May or ATTEST: Clarissa HadleY, City Clerk SPECIAL ASSESSMENTS INPUT FORM Date 12103/14 District 34 SA Project # 340324 SA Name Bella Vista 2 (10 characters including spaces) Number of Years 5 First Year Int .03796 Regular Int .03525 (5 decimal places, ie. 7%_ .07000) (5 decimal places, ie. 7%_.07000) TOTAL ASSESSMENT AMOUNT Check Activity : New Assessment X Assessment Delete Assessment Chg 1 Year Delinquent Annuals Division # REMINDER: All special assessment amounts must end with even cents. SA YEAR PID# Proj # DEF CERT ACTION (no spaces or dashes) (6 digits) AMOUNT CODE (current yr) CODE 34-12001-01-010 340324 39,391.80 2014 A ACTION CODE 34-12001-01-020 340324 39,391.80 2014 A A Add 34-12001-01-030 340324 39,391.80 2014 A C Change 34-12001-01-040 340324 39,391.80 2014 A D Delete 34-12001-01-050 340324 39,391.80 2014 A 34-12001-01-060 340324 39,391.80 2014 A FOR DIVISIONS 34-12001-01-070 340324 39,391.80 2014 A O Old Parcel 34-12001-01-080 340324 39,391.80 2014 A N New Parcel 34-12001-01-090 340324 39,391.80 2014 A 34-12001-01-100 340324 39,391.80 2014 A 34-12001-01-110 340324 39,391.80 2014 A DEFERRED CODE 34-12001-01-120 340324 39,391.80 2014 A S Sr Citizen 34-12001-01-130 340324 39,391.80 2014 A 34-12001-01-140 340324 39,391.80 2014 A 34-12001-01-150 340324 39,391.80 2014 A 34-12001-02-010 340324 39,391.80 2014 A 34-12001-02-020 340324 39,391.80 2014 A 34-12001-02-030 340324 39,391.80 2014 A 34-12001-02-040 340324 39,391.80 2014 A SPECIAL ASSESSMENTS INPUT FORM Date 12/03/14 District 34 SA Project # 340324 SA Name Bella Vista 2 (10 characters including spaces) Number of Years 5 First Year Int .03796 Regular Int .03525 (5 decimal places, ie. 7%_ .07000) (5 decimal places, ie. 7%_ .07000) TOTAL ASSESSMENT AMOUNT Check Activity : New Assessment X Assessment Delete Assessment Chg 1 Year Delinquent Annuals Division # 34-12001-02-050 340324 39,391.80 2014 A 34-12001-02-060 340324 39,391.80 2014 A 34-12001-03-010 340324 39,391.80 2014 A 34-12001-03-020 340324 39,391.80 2014 A 34-12001-04-010 340324 39,391.80 2014 A 34-12001-04-020 340324 39,391.80 2014 A 34-12001-04-030 340324 39,391.80 2014 A 34-12001-04-040 340324 39,391.80 2014 A 34-12001-04-050 340324 39,391.80 2014 A � � a E � � Q '�,,, ' � � ��.� � I 0 � W� 0 �J � �� Q , ___._____ _ ,____� .m__ _ _ _____ ___ ___ _ _. � �� -. � .� � 128TH' � � Q � ..--- °' C� �l �"!y sT �- -�`\ � , � z � �-�� , N n Q w � � m � � __ --_� _ _� � __W..�____ __.__ __.__.._ �OTH ST W ' I � � � __ ._. __ 0 N d ! 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