HomeMy WebLinkAboutCity Council Resolution 2016-115
C ITY OF P LYMOUTH
R ESOLUTION N O. 2016-115
R ESOLUTION D ECLARING C OST TO BE A SSESSED, AND
O RDERING P REPARATION OF P ROPOSED A SSESSMENT FOR THE
2016 C ONTRACTOR M ILL AND O VERLAY P ROJECT (16004)
WHEREAS, estimated costs have been calculated for the 2016 Contractor Mill and Overlay
Project (16004), including the streets in the following locations. The streets north of and including 25th
Avenue, east of County Road 101, west of Dunkirk Lane, and south of County Road 24 and Medina Road
excluding the following: the streets south of 30th Avenue, east of County Road 101, north of 25th
Avenue except for 150 feet of Olive Lane, and west of Jewel Lane except for 150 feet of 27th Avenue, as
well as Garland Lane north of 25th Avenue, Fountain Lane north of 25th Avenue, 27th Avenue west of
Fountain Lane, and Jewel Lane south of County Road 24. The streets east of Dunkirk lane, west of
Vicksburg Lane, north of Zanzibar Lane, and south of Yuma Lane. Also included is Cheshire Lane from
Carlson Parkway to the Maple Grove border and 1st Avenue east of Cheshire Lane and the 25th Avenue
cul-de-sac directly south of 25th Avenue, and the estimated cost for such improvement is
$2,118,463.44, and the expenses incurred or to be incurred in the making of such improvement amount
to $144,730.50 so that the total cost of the improvement will be $2,263,193.94.
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 $1,642,373.67 and the portion of the cost to be assessed
against benefited property owners is declared to be $620,820.27.
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, 2017, and shall bear the interest
rate of 2.89% percent for a 5 year term, 3.52% for a 10 year term, or 3.85% 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 12th day of April, 2016.