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Home My WebLink About6.i. Declare Costs for Assessment/Set Public Hearing, Stonebridge 3rd Addition Street & Utility Improvements, City Project #295 . . , CITY OF ROSEMOUNT EXECUTIVE SUMMARY FOR ACTION CITY COUNCIL MEETING DATE: September 21, 1999 AGENDA ITEM: Declare Costs for Assessment/Set Public AGENDA SECTION: Hearing, Stonebridge 3rd Addition Street& Consent Utility Improvements, City Project#295 PREPARED BY: Bud Osmundson AGENDA NO. o City Engineer/Public Works Director � � � ATTACHMENTS: Resolution,Project Cost&Funding APPROVED BY• Summaries,Drawing Attached are copies of Project Cost and Funding Summaries for the Stonebridge 3rd Addition Street& Utility Improvements, City Project#295. City Project#295 was initiated through a petition from Ron Carlson and Mark Johnson Construction,the owners of the benefiting properties, on May 5, 1998. The Feasibility Report Project Cost Estimate was $219,600 and the project was completed in the spring of 1999 for a total cost of$186,775. The total cost is to be assessed against the Stonebridge 3`�Addition. Staff is recommending setting a public hearing for October 19, 1999 at 8:00 p.m. to consider these assessments. RECOMMENDED ACTION: MOTION TO ADOPT A RESOLUTION DECLARING COSTS TO BE ASSESSED AND ORDERING PREPARATION OF PROPOSED ASSESSMENT AND CALLING FOR HEARING ON THE PROPOSED ASSESSMEN,T FOR STONEBRIDGE 3�ADDITION STREET AND UTILITY IlVIPROVEMENTS, CITY PROJECT#295. CITY COUNCIL ACTION: CITY OF ROSEMOUNT DAKOTA COUNTY, MINNESOTA RESOLUTION 1999 - A RESOLUTION DECLARING COST TO BE ASSESSED AND ORDERING PREPARATION OF PROPOSED ASSESSMENT, AND CALLING FOR HEARING ON THE PROPOSED ASSESSMENT STONEBRIDGE 3RD ADDITION STREET AND UTiLITY IMPROVEMENTS CtTY PROJECT #295 WHEREAS, a contract has been let for the Stonebridge 3rd Addition Street & Utility Improvements and the contract price for such improvement is $137,944, and the expenses incurred or to be incurred in the making of such improvement amount to $48,831 so that the total cost of the improvement will be 5 7 86,775. NOW, THEREFORE, BE IT RESOLVED by the City Council of Rosemount, Minnesota: 1 . The portion of the cost of such improvement to be paid by the City is hereby declared to be $0.00 and the portion of the cost to be assessed against benefited property owners is declared to be $�86,775. 2. Assessments shall be payable in equal annual installments extending over a period of 10 years, the first of the installments to be payable with genera( taxes for the year 1999, and shalf bear interest at the rate of 2% points per annum above the interest rate paid by the City for its bonds from date of the adoption of the assessment resolution. 3. The City Clerk, with the assistance of the Public Works Director shall forthwith calculate the proper amount to be specially assessed for such improvement against every assessable lot, piece or parcel of land within the district affected, without regard to cash valuation, as provided by law, and he shall file a copy of such proposed assessment in his office for public inspection; and BE IT FURTHER RESOLVED by the City Council of Rosemount, Minnesota: 1 . A hearing shall be held on the 19th day of October, 1999 in the City Hall at 8:00 p.m. or as soon thereafter as possible, 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. . Resolution 1999 - She shall also cause mailed notice to be given to the owner of each parcel described in the assessment rolF not less than two weeks prior to the hearings. BE IT FURTHER RESOLVED by the City Council of Rosemount, Minnesota: The owner of any property so assessed may, at any time prior to certification of the assessment ta the County Auditor, pay the whole of the assessment on such property, with interest accrued to the date of payment, to the City, except that no interest shall be charged if the entire assessment is paid within 30 days from the adoption of the assessment. The owner may at any time thereafter, pay to the County Auditor 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 or interest will be charged through December 31 of the succeeding year. ADOPTED this 21 st day of September, 1999. Cathy Busho, Mayor ATTEST: Susan M. Walsh, City Clerk Motion by: Seconded by: Voted in favor: Voted against: � 2 f PROJECT COST SUMMARY CITY PROJECT#295 STONEBRIDGE 3RD ADDITION STREET AND STORM SEWER IMPROVEMENTS ITEM � AMOUNT CONSTRUCTION COST: Watermain Sanitary Sewer Storm Drain $32,396.00 Street $105,548.00 Subtotal $137,944.00 ENGINEERING: Design Engineering $8,250.00 Construction Engineering $19,895.00 Soil Borings/Testing $1,736.00 Subtotal $29,881.00 ADMINISTRATION, LEGAL, FINANCE Administration (5% Construction Cost) $6,897.00 Legal Notices $347.00 Recording Fees $32.00 Capitalized Interest $10,004.00 Bond Issuance Costs $1,670.00 Subtotal $18,950.00 TOTAL PROJECT COST $186,775.00 . � PROJECT FUNDING SUMMARY CITY PROJECT#295 STONEBRIDGE 3RD ADDITION STREET AND STORM SEWER IMPROVEMENTS TOTAL PROJECT COST FUNDING SOURCES AMOUNT Streets: Assessments $143,817.00 Subtotal $143,817.00 Storm Drain: Assessments $42,958.00 Subtotal $42,958.00 Sanitary Sewer: S u btotai Watermain; Subtotal TOTAL FUNDING $186,775.00 � � , , . 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