HomeMy WebLinkAboutCity Council Resolution 2020-117
C ITY OF P LYMOUTH
R ESOLUTION N O. 2020-117
R ESOLUTION D ECLARING C OST TO BE A SSESSED, AND O RDERING
P REPARATION OF P ROPOSED A SSESSMENT FOR THE 2020 S TREET
R ECONSTRUCTION P ROJECT (ST209001)
WHEREAS, estimated costs have been calculated for the 2020 Street
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Reconstruction Project, City Project No. ST209001 including 15 Ave from Rosewood Ln
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to the Hwy 55 Frontage Road, Pineview Ln from a point 180 feet north of 13 Ave to
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15 Ave, Oakview Ln from 15 Ave to 11 Ave, 12 Ave from Oakview Ln to Kirkwood
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Ln, 11 Ave from Pineview Ln to Magnolia Ln, Magnolia Ln from 11 Ave to 12 Ave,
Kirkwood Ln from the Hwy 55 Frontage Road to Magnolia Ln, Hwy 55 Frontage Road
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from 15 Ave to Cottonwood Ln, Ives Ln south of the Hwy 55 Frontage Road, Forestview
Ln south of the Hwy 55 Frontage Road, Cottonwood Ln south of the Hwy 55 Frontage
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Road, 32 Ave from East Medicine Lk Blvd to a point 205 feet east of Saratoga Ln,
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Saratoga Lan from 32 Ave to a point 150 feet south, Union Terrace south of 32 Ave,
East Medicine Lk Blvd from the driveway entrance to 3110 East Medicine Lk Blvd to
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Medicine Ridge Road, 30 Avenue east of East Medicine Lk Blvd, 24 Ave from
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Lancaster Ln to Kilmer Ln, 17 Ave west of Kilmer Ln, and Nathan Ln south of 10 Ave,
and the estimated cost for such improvement is $11,183,744.00, and the expenses
incurred or to be incurred in the making of such improvement amount to $1,525,056.00
so that the total cost of the improvement will be $12,708,800.
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PLYMOUTH, MINNESOTA:
1. The portion of the cost of such improvement to be paid by the City of
Plymouth is declared to be $9,559,500.00 and the portion of the cost to be
assessed against benefited property owners is declared to be $3,149,300.00.
2. Assessments shall be payable in equal annual installments extending over a
period of either 5 years, 10 years, or 15 years with the first of the installments
to be payable on or before the first Monday in January, 2021, and shall bear the
interest rate of 3.67% percent for a 5 year term, 3.00% for a 10 year term, or
3.23% for a 15 year term per annum from the date of the adoption of the
assessment resolution.
3. The City Clerk, with the assistance of the City Engineer, 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 the law, and shall file a copy of
such proposed assessment in the office for public inspection.
4. The Clerk shall upon completion of such proposed assessment notify the
City Council thereof.
APPROVED by the City Council on this 24th day of March, 2020.