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Home My WebLink About6.h. Adopt Assessment Roll – Greystone 7th Street and Utility Improvements, City Project 2018-10I:\City Clerk\Agenda Items\Approved Items\6.h. Adopt Assessment Roll – Greystone 7th Street and Utility Improvements, City Project 2018-10.docx EXECUTIVE SUMMARY City Council Meeting: October 16, 2018 AGENDA ITEM: Adopt Assessment Roll – Greystone 7th Street and Utility Improvements, City Project 2018-10 AGENDA SECTION: Consent PREPARED BY: Stephanie Smith, PE, Assistant City Engineer AGENDA NO. 6.h. ATTACHMENTS: Resolution; Assessment Roll; Letter to Lennar Dated 10/3/2018; Map APPROVED BY: LJM RECOMMENDED ACTION: Motion to Adopt a Resolution Adopting the Assessment Roll for the Greystone 7th Addition Street and Utility Improvements, City Project 2018-10. BACKGROUND On April 17, 2018 the City Council executed the subdivision agreement with Lennar, formerly CalAtlantic, for Greystone 7th Addition Street and Utility Improvements, City Project 2018-10. Included in the agreement was a petition and waiver to request the Greystone 7th project and waive the MN Chapter 429 process for levying the assessment of the project costs. On October 3, 2018, staff sent the developer a letter with the anticipated assessment amount. A total of $1,206,993.00 is proposed to be assessed to benefitting properties as shown on the attached assessment roll. This amount includes construction and bonding costs for Greystone 7th Addition and utility trunk fees as shown in the table below. Overhead costs for the project were paid by the developer per the subdivision agreement. The project will be assessed over a 5-year period at an interest rate of 4.195%. Assessment Breakouts Construction (includes Bonding Admin) $961,127.00 Water Trunk Fee $116,545.00 Sanitary Trunk Fee $ 19,275.00 Storm Trunk Fee $110,046.00 Total $ 1,206,993.00 Note: An additional Dakota County fee for assessment processing is not included in this amount, but will be added to the first installment of the assessment. RECOMMENDATION Staff recommends that the City Council approve a resolution adopting the assessment roll as presented. CITY OF ROSEMOUNT DAKOTA COUNTY, MINNESOTA RESOLUTION 2018 - 91 A RESOLUTION ADOPTING THE ASSESSMENT ROLL FOR GREYSTONE 7TH STREET AND UTILITY IMPROVEMENTS CITY PROJECT 2018-10 WHEREAS, on April 17, 2018 the City Council received the petition and waiver agreement to the proposed assessment for the Greystone 7th Addition Street and Utility Improvements, City Project 2018-10, 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 $1,206,993.00, a copy of which is in Clerk’s File dated October 16, 2018, 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. Assessment Breakouts Construction (includes Bonding Admin) $961,127.00 Water Trunk Fee $116,545.00 Sanitary Trunk Fee $ 19,275.00 Storm Trunk Fee $110,046.00 Total $ 1,206,993.00 (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 2018, collectible with such taxes during the year 2019. b. To the first installment shall be added any applicable assessment fees and interest on the entire principal amount of the assessment from October 31, 2018 until December 31 of the year in which such installment is payable. The interest rate shall be set at 4.195% per annum, two points over the bond rate. 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, 2018; 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, 2018, 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 16th day of October, 2018. Resolution 2018 - 91 384799 CLL RS215-3 2 William H. Droste, Mayor ATTEST: Erin Fasbender, City Clerk Block Lot PID Address Original Assessment 1 1 343100601010 13801 ADAN AVE 26,238.98$ 1 2 343100601020 13815 ADAN AVE 26,238.98$ 1 3 343100601030 13829 ADAN AVE 26,238.98$ 1 4 343100601040 13843 ADAN AVE 26,238.98$ 1 5 343100601050 13857 ADAN AVE 26,238.98$ 1 6 343100601060 13871 ADAN AVE 26,238.98$ 1 7 343100601070 13885 ADAN AVE 26,238.98$ 1 8 343100601080 1391 139TH STREET E 26,238.98$ 1 9 343100601090 1371 139TH STREET E 26,238.98$ 1 10 343100601100 1351 139TH STREET E 26,238.98$ 2 1 343100602010 13804 ADAN AVE 26,238.98$ 2 2 343100602020 13816 ADAN AVE 26,238.98$ 2 3 343100602030 13832 ADAN AVE 26,238.98$ 2 4 343100602040 13848 ADAN AVE 26,238.98$ 2 5 343100602050 13864 ADAN AVE 26,238.98$ 2 6 343100602060 13880 ADAN AVE 26,238.98$ 2 7 343100602070 13896 ADAN AVE 26,238.98$ 3 1 343100603010 13901 APOLLO CT 26,238.98$ 3 2 343100603020 13931 APOLLO CT 26,238.98$ 3 3 343100603030 13961 APOLLO CT 26,238.98$ 3 4 343100603040 13991 APOLLO CT 26,238.98$ 3 5 343100603050 14001 APOLLO CT 26,238.98$ 3 6 343100603060 14017 APOLLO CT 26,238.98$ 3 7 343100603070 14033 APOLLO CT 26,238.98$ 3 8 343100603080 14049 APOLLO CT 26,238.98$ 3 9 343100603090 14065 APOLLO CT 26,238.98$ 3 10 343100603100 14081 APOLLO CT 26,238.98$ 3 11 343100603110 14097 APOLLO CT 26,238.98$ 3 12 343100603120 14096 APOLLO CT 26,238.98$ 3 13 343100603130 14080 APOLLO CT 26,238.98$ 3 14 343100603140 14064 APOLLO CT 26,238.98$ 3 15 343100603150 14048 APOLLO CT 26,238.98$ 3 16 343100603160 14032 APOLLO CT 26,238.98$ 3 17 343100603170 14016 APOLLO CT 26,238.98$ 3 18 343100603180 14000 APOLLO CT 26,238.98$ 3 19 343100603190 13980 APOLLO CT 26,238.98$ 3 20 343100603200 13940 APOLLO CT 26,238.98$ 3 21 343100603210 13900 APOLLO CT 26,238.98$ 3 22 343100603220 1350 139TH STREET E 26,238.98$ 3 23 343100603230 1360 139TH STREET E 26,238.98$ 3 24 343100603240 1370 139TH STREET E 26,238.98$ 3 25 343100603250 1380 139TH STREET E 26,238.98$ 3 26 343100603260 1390 139TH STREET E 26,238.98$ 3 27 343100603270 1400 139TH STREET E 26,238.98$ 3 28 343100603280 1410 139TH STREET E 26,238.98$ 3 29 343100603290 1420 139TH STREET E 26,238.98$ Total 1,206,993.00$ Greystone 7th \\rosemount9\Data\PWorks\ENGPROJ\2018‐10 Greystone 7th\Assessment Tracking Spreadsheet 2018‐10 G7 ,S ROSEMOUNT October 3, 2018 Mr. Paul Tabone MN Land Division U.S. Home C.orporation DBA Lennar 16305 36th Avenue North, Suite 600 Plymouth, MN 55446 Re: Updated Assessments Greystone 7 th (City Project 2018-10) Dear Mr. Tabone: PUBLIC WORKS DEPARTMENT Per Paragraph 3 of the Petition and Waiver Agreement for Greystone 7th Addition, the assessment amount will be based on the actual costs of the Improvement Project. The construction contract was $31,311.95 above the engineer's estimate. A work order dated 10/1/2018 for extending the water main from Apollo C.ourt towards Ashley C.ourt increased the I mprovement costs by $13,316.00. The assessment amount for Greystone 7th will be adjusted based on the updated cost for the Improvement Project. The adjusted assessment amount is summarized in the table below: Updated Cost Item Estimated Cost (10-1-2018) Calculation Construction only; does Estimated Construction Cost + 10% $883,997 $928,625 not include overhead Admin Fee ( costs assoc. with bonding) $30,940 $32,502 3.5% of Construction Cost Total Estimated Pro_ject Cost $914,937 $961,127 Sanitary Sewer Trunk Charge $19,275 $19,275 $ I 075/acre x 17 .93 acres Watermain Trunk Charge $116,545 $116,545 $6500/acre x 17 .93 acres $6865/net developable acre x Storm Sewer Trunk Charge $110,046 $110,046 17.93 acres Total Trunk Charges $245,866 $245,866 Total Assessment Amount $1,160,803 $1,206,993 Per the Agreement, the $1,206,993 assessment will be divided among the lots platted in Greystone 7th Addition and is payable over 5 years bearing interest. SPIRIT OF PRIDE AND PROGRESS 2875 145th Street West· Rosemount, MN 55068-4997·651 -423-4411 • TDD/TTY 7-1 -1 • Fax 651-322-2694 www.ci.rosemount.mn.us Greystone III Property Information Febru ary 23, 2018 0 875 1,750437.5 ft 0 270540135 m 1:9,600 Disclaimer: Map and parcel data are believed to be accurate, but accuracy is not guaranteed. This is not a legal document and should not be substituted for a title search,appraisal, survey, or for zoning verification.