HomeMy WebLinkAboutCity Council Resolution 2022-064
C ITY OF P LYMOUTH
R ESOLUTION N O. 2022-064
R ESOLUTION D ECLARING C OST TO BE A SSESSED, AND O RDERING P REPARATION OF P ROPOSED
A SSESSMENT FOR THE P INEVIEW L ANE AND P LUM T REE E AST
R EHABILITATION P ROJECT (ST229002)
WHEREAS, estimated costs have been calculated for the Pineview Lane and Plum Tree East
Rehabilitation Project, City Project No. ST229002, including Pineview Lane between 53rd Avenue and
County Road 61 (Northwest Boulevard); and the Plum Tree East neighborhood east of Peony Lane, north
of Old Rockford Road, west of Holly Lane, and south of the Canadian Pacific Railroad, including 45th
Avenue, 46th Avenue, 48th Avenue, Jewel Lane, Jewel Court, Inland Court, Kimberly Court, Merrimac
Lane, Merrimac Court, Narcissus Lane and Narcissus Court, and the estimated cost for such
improvement is $1,753,500.
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 $1,465,700 and the portion of the cost to be assessed against benefited property owners is
declared to be $287,800.
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, 2023, and shall bear the interest rate of 2.10% percent for a 5 year term, 2.53% for a
10 year term, or 2.64% 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 8th day of March, 2022.