HomeMy WebLinkAboutCity Council Resolution 2024-050
C ITY OF P LYMOUTH
R ESOLUTION N O. 2024-050
R ESOLUTION D ECLARING C OST TO BE A SSESSED, AND O RDERING P REPARATION OF P ROPOSED
A SSESSMENT FOR THE B IRCHWOOD E STATES S TREET R ECONSTRUCTION P ROJECT (ST249001)
WHEREAS, estimated costs have been calculated for the Birchwood Estates Street
Reconstruction Project, City Project No. ST249001 including 4th Avenue from Vicksburg Lane to
Comstock Lane, 5th Avenue from Weston Lane to the western dead end, Black Oaks Lane from 5th
Avenue to the southern dead end, Comstock Lane from 4th Avenue to the northern cul-de-sac, and
Weston Lane from 4th Avenue to 5th Avenue, and the estimated cost for such improvement is
$5,399,000, and the expenses incurred or to be incurred in the making of such improvement amount to
$811,000 so that the total cost of the improvement will be $6,210,000.
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 hereby
declared to be $5,224,00 and the portion of the cost to be assessed against benefited property owners
is declared to be $986,000.
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, 2025, and shall bear the interest rate of 3.97% percent for a 5 year term, 4.00% for a
10 year term, or 4.53% 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 City Clerk shall upon completion of such proposed assessment notify the City Council
thereof.
APPROVED by the City Council on this 23rd day of January, 2024.