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Home My WebLink About6.r. Declare Costs, Set Public Hearing Geronime Pond 2nd Addition Street & Utility Improvements, City Project #293 CITY OF ROSEMOUNT EXECUTIVE SUMMARY FOR ACTION CITY COUNCIL MEETING DATE: September 7, 1999 AGENDA ITEM: Declare Costs for Assessment/Set Public AGENDA SECTION: � Hearing, Geronime Pond 2°a Addition Street& Consent Utility Improvements, City Project#293 PREPARED BY: Bud Osmundson AGENDA NO. City Engineer/Public Works Director �T�� 6 R ATTACHMENTS: Resolution, Project Cost &Funding APPROVED BY l/� Summaries � � � Attached are copies of Project Cost and Funding Summaries for the Geronime Pond 2"a Addition Street&Utility Improvements, City Project#293. City Project#293 was initiated through a petition from Heritage Development Company. A public hearing was held for this project on Apri121, 1999 due to the fact that four properties adjacent to the Geronime Pond 2nd Addition were provided sewer and/or water services. The Feasibility Report project cost estimate was $460,000. The project was completed in the fall of 1998 for a total cost of$306,371. The costs are to be assessed against the four adjacent properties,plus the Geronime Pond 2nd Addition. Staff is recommending declaring cost and setting a public hearing for October 5, 1999 at 8:00 p.m. or as soon as possible thereafter. 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 ASSESSMENT FOR GERONIlVIE POND 2ND ADDITION STREET AND UTILITY IMPROVEMENTS, CITY PROJECT#293. CITY COUNCIL ACTION: f � CITY OF ROSEMOUNT DAKOTA COUNTY,MINNESOTA RESOLUTION 1999- 10 7 A RESOLUTION DECLARING COST TO BE ASSESSED AND ORDERING PREPARATION OF PROPOSED ASSESSMENT,AND CALLING _ FOR HEARING ON THE PROPOSED ASSESSMENT GERONIME POND 2'�'D ADDITION STREET & UTILITY IMPROVEMENTS CITY PROJECT#293 WHEREAS, a contract has been let for the Geronime Pond 2"d Addition Street&Utility Improvements, and the contract price for such improvement is $230,886, and the expenses incurred or to be incurred in the making of such improvement amount to $75,485, so that the total cost of the improvement will be$306,371. 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$306,371. 2. Assessments shall be payable in equal annual installments extending over a period of 10 years, the first of the instaliments to be payable with general ta�ces for the year 1999, and shall 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 the office for public inspection; and BE IT FURTHER RESOLVED by the City Council of Rosemount,Minnesota: 1. A hearing shall be held on the 5`�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. She shall also cause mailed notice to be given to the owner of each parcel described in the assessment roll not less than two weeks prior to the hearings. � ,, RESOLUTION 1999- 10 7 BE IT FURTHER RESOLVED by the City Council of Rosemount,Minnesota: The owner of any property so assessed may, at any time prior to certificate 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, 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 7th day of September, 1999,by the City Council of the City of Rosemount. Cathy Busho, yor ATTEST: r Susan M. Walsh, ity Clerk Motionby: Klassen Secondedby: Edwards Votedinfavor: Cisewski, Klassen, Busho, Caspar, Edwards. Voted against: None. Member absent: None. PROJECT COST SUMMARY CITY PROJECT #293 IMPROVEMENTS ITEM AMOUNT CONSTRUCTION COST: Watermain $51,128.00 Sanitary Sewer $52,831.00 Storm Drain $53,381.00 Street $73,546.00 Subtotal $230,886.00 ENGINEERING: Design Engineering $16,503.00 Construction Engineering $23,585.00 Soil Borings�T'esting $3,262.00 Subtotal $43,350.00 ADMINISTRATION, LEGAL, FINANCE Administration (5% Construction Cost) $11,544.00 Legal Notices $339.00 Legal Fees $169.00 Communication Costs $0.00 Recording Fees $208.00 Easements $0.00 Capitalized Interest (98B) $16,979.00 Bond Issuance Costs $2,506.00 Permits $390.00 Subtotal $32,135.00 TOTAL PROJECT COST $306,371.00 PROJECT FUNDING SUMMARY CITY PROJECT#293 IMPROVEMENTS TOTAL PROJECT COST � FUNDING SOURCES AMOUNT Streets: Assessments $98,039.00 Subtotal $98,039.00 Storm Drain: Assessments $70,465.00 Subtotal $70,465.00 Sanitary Sewer: Assessments $70,465.00 Subtotal $70,465.00 Watermain: Assessments $67,402.00 Subtotal $67,402.00 CITY PROJECT#293 GERONIME POND 2ND ADDITION STREET 8� UTILITY IMPROVEMENTS ASSESSMENT BREAKDOWN AREA ASSESSMENT AMOUNT 34-03110-010-99 SS, H20 $14,049.00 34-03210-020-07 SS $7,897.00 34-03110-010-90 SS, H20 $7,138.00 34-30250-040-00 SS, H20 $7,138.00 Geronime Pond 2nd @ 52 SS, H2O, STM, ST $270,149.00 TOTAL AMOUNT $306,371.00 Cost per lot in Geronime Pond 2nd Addition $270,149.00/ 52 lots = $5,195.18 Capitalized Interest Costs $17,438.10 (G.O. Improvements Bonds, 1998B) - $459.39 (Interest Earnings) $16,978.71