Loading...
HomeMy WebLinkAbout6.m. Assessment Agreement CITY OF ROSEMOUNT EXECUTIVE SUMMARY FOR ACTION CITY COUNCIL MEETING DATE: November 2, 1999 AGENDA ITEM: Assessment Agreement AGENDA SECTION: Consent PREPARED BY: Bud Osmundson AGEND City Engineer/Public Works Director � � '� � �� ATTACHMENTS: Assessment Agreement APPROVED BY: ��/`J At the last meeting the City Council held an assessment hearing for the 145th Street Project, City Project #291 . At that meeting Elizabeth Zanmiller of 2745 145th Street West requested that the City delete the interest on the assessment to her property in a proposed assessemnt deferral agreement. The City Council did not take any action on that request. Ms. Zanmiller has requested that the City defer the assessments against her property as in the previously discussed Assessment Agreement which does include interest on the principal amount. The City would immediately assess $2,306, which was assessed to other single-family homes on the project and would defer 523,995 for a period of ten years at which time payment would be required in full. Section 2 of the Agreement details othe; possible occurrences which would trigger the payment in full of the assessments, plus interest. As drafted, the attached agreement does meet the requirements of the existing Assessment Policy. Staff recommends that the Council approve the attached Agreement and authorize the necessary signatures. RECOMMENDED ACTION: MOTION TO APPROVE THE ASSESSMENT AGREEMENT WITH ELIZABETH ZANMILLER AND TO AUTHORIZE THE NECESSARY SIGNATURES. COUNCIL ACTION: 9 • i AGREEMENT THIS AGREEMENT is made this 19�'day of October, 1999,by and beri�een the CITY OF ROSEMOUNT, a municipal corporation under the laws of Minnesota(the "City") and ELIZABETH ZANMILLER, a widow and not remarried (the"Owner"). WITNESSETH: WHEREAS,the Owner is the fee owner of that certain real property located in the City, which property is legally described on Exhibit A attached hereto (the"Subject Property"); and WHEREAS,the Owner has incurred certain fees and charges due the City in connection with work being performed by the Owner on the Subject Property; and WHEREAS,the Owner has paid the City$2,306.00 towards said fees and charges and has requested that the City defer$23,995.00 of the fees and charges for a period as below; and WHEREAS,the City is willing to defer a portion of the fees and charges in consideration of the Owner's execution of this Agreement. NOW, THEREFORE, on the basis of the mutual covenants and agreements provided herein,the parties agree as follows: l. The Owner represents and warrants that she is the fee owner of Subject Properiy, that she has full legal power and authority to encumber the Subject Property as provided herein, and that the Subject Property, as of the date of this Agreement, is not subject to any liens or encumbrances, except those listed on Exhibit B attached hereto. 2. The Owner will pay the City the sum of$23,995.00 plus simple interest at the rate of 6.5386%per annum from the date of this agreement to the date of payment. Payment will be made upon the earliest to occur of any of the following: a) transfer of ownership of all or any part of the Subject Property,b) ten years from the date of this agreement, c) issuance of a building permit for any new building on the Subject Property for a commercial use, or d) approval by the City council of a subdivision or plat of all or any part of the Subject Property. 3. The Owner acknowledges that it is the City's intent, upon the Owner's failure to repay such sum in full when due,to specially assess the amount owned against the Subject Property. Such assessment shall be made pursuant to Minnesota Statutes, Section 429.101 and shall bear interest from the date of this Agreement at a rate of 6.5386%per annum. The Owner hereby specifically waives notice of hearing and hearing on the levy of special assessments pursuant to Minnesota Statutes, Chapter 429. The Owner further waives their right to appeal said assessments pursuant to Minnesota Statutes, Chapter 429. 4. The Owner, for herself,her successors and assigns, acknowleges that she has requested the City to defer collection of the stated portions of the fees and charges, that such fees and charges are due and payable by the Owner,that the City would be unwilling to defer said amounts except for the Owner's promise to repay and execution of this Agreement, and that the Subject Property was benefited by at least the amount of$26,301.00. 5. The covenants,waivers and agreements contained in this Agreement shall bind the successors and assigns of the Owner and shall run with the Subject Property and shall bind all successors in interest thereo£ It is the intent of the parties hereto that this Agreement shall be a form which is recordable among the land records of Dakota County, Minnesota, and they agree to make any changes in this Agreement which may be necessary to effect the recording and filing of this Agreement against the Subject Property. IN WITNESS WHEREOF,the parties have set their hands this day and year first written above. CITY OF ROSEMOUNT By: Cathy Busho,Mayor Elizabeth Zanmiller By: Susan M. Walsh, City Clerk STATE OF MINNESOTA) ) ss. COUNTY OF DAKOTA ) The foregoing instrument was acknowledged before me this day of , 1999,by Cathy Busho and Susan M. Walsh, respectively the Mayor and City Clerk of the City of Rosemount,Minnesota, a Minnesota municipal corporation under the laws of the State of Minnesota, on behalf of the City. . Notary Public STATE OF MINNESOTA) ) ss. COUNTY OF DAKOTA ) The foregoing instrument was acknowledged before me this day of , 1999,by Elizabeth Zanmiller, a widow and not remarried. Notary Public -2- . : __ _ _._ . _ __ _. _ _ . EXHIBIT A Subject Property Legal Description PID No. 34-03700-060-00 Auditors Subdivision No. 1, Lot 2, except beginning with the intersection of the east line and the south line of the railroad right-of-way, then south 625.3 feet, then right ninety degrees 633.1 feet, then left ninety degrees to south line, then west on south line 367 feet north parallel east line 457.08 feet to south railroad right-of-way, northeast on right-of-way to beginning, except east 633 feet, Dakota County, Minnesota.