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Home My WebLink About6.j. Adopt Assessment Roll – Greystone 6th Street and Utility Improvements, City Project 2017-01I:\City Clerk\Agenda Items\Approved Items\6.j. Adopt Assessment Roll – Greystone 6th Street and Utility Improvements, City Project 2017-01.docx EXECUTIVE SUMMARY City Council Regular Meeting: October 3, 2017 AGENDA ITEM: Adopt Assessment Roll – Greystone 6th Street and Utility Improvements, City Project 2017-01 AGENDA SECTION: Consent PREPARED BY: Mitch Hatcher, PE, Assistant City Engineer AGENDA NO. 6.j. ATTACHMENTS: Resolution; Assessment Roll APPROVED BY: RECOMMENDED ACTION: Motion to Adopt a Resolution Adopting the Assessment Roll for the Greystone 6th Street and Utility Improvements, City Project 2017-01. BACKGROUND: On April 4, 2017 the City Council executed the subdivision agreement for Greystone 6th Street and Utility Improvements, City Project 2017-01. Included in the subdivision agreement was a petition and waiver agreement for the assessment of construction costs and trunk fees to the developer, CalAtlantic Group, Inc. A total of $1,335,056.26 is proposed to be assessed to adjacent properties as shown on the attached assessment roll. This amount (shown in detail below) includes estimated construction costs (based on the bid) and trunk fees for the development; overhead for the project was paid in cash by the developer at the time the subdivision agreement was executed. Greystone 6th Streets and Utilities $1,073,557.26 Storm Trunk $116,362.00 Sanitary Trunk $20,597.00 Water Trunk $124,540.00 Total $1,335,056.26 The project will be assessed over a 5-year period at an interest rate of 3.493%. SUMMARY: Staff recommends that the City Council adopt a resolution adopting the assessment roll as presented. CITY OF ROSEMOUNT DAKOTA COUNTY, MINNESOTA RESOLUTION 2017- A RESOLUTION ADOPTING THE ASSESSMENT ROLL FOR GREYSTONE 6TH STREET AND UTILITY IMPROVEMENTS CITY PROJECT 2017-01 WHEREAS, on April 4, 2017 the City Council received the petition and waiver agreement to the proposed assessment for the Greystone 6th Street and Utility Improvements, City Project 2017-01, and has amended such proposed assessment as it deems just. NOW THEREFORE BE IT RESOLVED by the City Council of the City of Rosemount, Minnesota, as follows: (1) Such proposed assessment in the amount of $1,335,056.26, a copy of which is in Clerk’s File dated October 3, 2017, 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 with general taxes for the year 2017, collectible with such taxes during the year 2018. b. To the first installment shall be added interest on the entire principal amount of the assessment from October 31, 2017 until December 31 of the year in which such installment is payable. The interest rate shall be set at either 3.493% per annum or 2 points above the City’s bond rate at the time the assessments are certified to Dakota County Property Taxation & Records, whichever is less. To each subsequent installment, when due there shall be added interest for one year at said rate on the unpaid principal amount of the assessment. c. The owner of any property so assessed may at any time prior to the certification of the assessment or the first installment thereof to Dakota County Property Taxation & 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 October 31, 2017; and such property 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 which said payment is made. Payment must be received and posted at the County by December 31; postmarks will not be accepted. (3) On October 31, 2017, 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 County. ADOPTED this 3rd day of October, 2017. William H. Droste, Mayor ATTEST: Clarissa Hadler, City Clerk Block Lot PID Address Assessment 11 34‐31005‐01‐010 13701 Apollo Way / 1295 138th Street E 31,047.82$ 12 34‐31005‐01‐020 13709 Apollo Way 31,047.82$ 21 34‐31005‐02‐010 13708 Apollo Way 31,047.82$ 22 34‐31005‐02‐020 13716 Apollo Way 31,047.82$ 23 34‐31005‐02‐030 13724 Apollo Way 31,047.82$ 24 34‐31005‐02‐040 13732 Apollo Way 31,047.82$ 25 34‐31005‐02‐050 13740 Apollo Way 31,047.82$ 26 34‐31005‐02‐060 13748 Apollo Way 31,047.82$ 27 34‐31005‐02‐070 13756 Apollo Way 31,047.82$ 28 34‐31005‐02‐080 13764 Apollo Way 31,047.82$ 29 34‐31005‐02‐090 13772 Apollo Way 31,047.82$ 210 34‐31005‐02‐100 13780 Apollo Way 31,047.82$ 211 34‐31005‐02‐110 13788 Apollo Way / 1455 138th Street E 31,047.82$ 212 34‐31005‐02‐120 1435 138th Street E 31,047.82$ 213 34‐31005‐02‐130 1415 138th Street E 31,047.82$ 214 34‐31005‐02‐140 1395 138th Street E 31,047.82$ 215 34‐31005‐02‐150 1375 138th Street E 31,047.82$ 216 34‐31005‐02‐160 1355 138th Street E 31,047.82$ 217 34‐31005‐02‐170 1335 138th Street E 31,047.82$ 218 34‐31005‐02‐180 13700 Apollo Way / 1315 138th Street E 31,047.82$ 31 34‐31005‐03‐010 13757 Apollo Way 31,047.82$ 32 34‐31005‐03‐020 13765 Apollo Way 31,047.82$ 33 34‐31005‐03‐030 13773 Apollo Way 31,047.82$ 34 34‐31005‐03‐040 13781 Apollo Way 31,047.82$ 35 34‐31005‐03‐050 13789 Apollo Way / 1475 138th Street E 31,047.82$ 36 34‐31005‐03‐060 1495 138th Street E 31,047.82$ 37 34‐31005‐03‐070 1515 138th Street E 31,047.82$ 38 34‐31005‐03‐080 1535 138th Street E 31,047.82$ 39 34‐31005‐03‐090 1555 138th Street E / 13799 Anderson Dr 31,047.82$ 41 34‐31005‐04‐010 1372 138th Street E / 13800 Adan Ave 31,047.82$ 42 34‐31005‐04‐020 1392 138th Street E 31,047.82$ 43 34‐31005‐04‐030 1412 138th Street E 31,047.82$ 44 34‐31005‐04‐040 1432 138th Street E 31,047.82$ 45 34‐31005‐04‐050 1452 138th Street E 31,047.82$ 46 34‐31005‐04‐060 1472 138th Street E 31,047.82$ 47 34‐31005‐04‐070 1492 138th Street E 31,047.82$ 48 34‐31005‐04‐080 1512 138th Street E / 13801 Anderson Ave 31,047.82$ 49 34‐31005‐04‐090 13809 Anderson Ave 31,047.82$ 51 34‐31005‐05‐010 13776 Anderson Ave 31,047.82$ 52 34‐31005‐05‐020 13784 Anderson Ave 31,047.82$ 53 34‐31005‐05‐030 13792 Anderson Ave 31,047.82$ 54 34‐31005‐05‐040 13800 Anderson Ave 31,047.82$ 55 34‐31005‐05‐050 13808 Anderson Ave 31,047.82$ Total 1,335,056.26$ Greystone 6th ‐ Assessment Roll G:\ENGPROJ\2017‐01 Greystone 6th Addition\Assessment Tracking Spreadsheet 2017‐01 G6