HomeMy WebLinkAboutCity Council Resolution 2011-163CITY OF PLYMOUTH
RESOLUTION No. 2011-163
A RESOLUTION DECLARING COST TO BE ASSESSED, AND
ORDERING PREPARATION OF PROPOSED ASSESSMENT FOR THE
2011 EDGE MILL AND OVERLAY PROJECT
CITY PROJECT NO. 11012
WHEREAS, estimated costs have been calculated for the 2011 Edge Mill and Overlay
Project, City Project No 11012 including the streets located in five project areas. Area A is
located in the northeast section of the City and includes Nathan Lane from Bass Lake Road to
the cul-de-sac south of 54th Avenue, and from Schmidt Lake Road to 51" Avenue, 54t1' Avenue
and 56th Avenue from Nathan Lane to Mendelssohn Avenue, and Mendelssohn Avenue from
Schmidt Lake Road to 51st Avenue. Area B is located on Harbor Lane from Fernbrook Lane to
Empire Lane and the adjacent cul-de-sacs of Empire Lane to the north and south of Harbor Lane.
Area C is located on 23rd Avenue and 271h Avenue from Niagara Lane to Fernbrook Lane and
28t1' Avenue from Niagara Lane to 27t1' Avenue. Area D is the Ferndale North neighborhood,
located east of Ferndale Road including 4th Avenue to 9t1' Avenue and Brockton Lane to Zircon
Lane. Area E is located on Carlson Parkway from east of the Interstate 494 bridge overpass to
60 feet east of the Interstate 494 northbound on/off ramp, and the estimated cost for such
improvement is $870,000, and the expenses incurred or to be incurred in the making of such
improvement amount to $217,500 so that the total cost of the improvement will be $1,087,500.
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 hereby declared to be $327,500 and the portion of the cost to be
assessed against benefited property owners is declared to be $760,000.
2. Assessments shall be payable in equal annual installments extending over a
period of either 5 years, 10 years, or 15 years the first of the installments to be
payable on or before the first Monday in January, 2012, and shall bear the
interest rate of 3.45% percent for a 5 year term, 5.08% for a 10 year term OR
5.82% 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 this 24t1' day of May, 2011.