HomeMy WebLinkAboutCity Council Resolution 2018-117
C ITY OF P LYMOUTH
R ESOLUTION N O. 2018-117
R ESOLUTION D ECLARING C OST TO BE A SSESSED, AND O RDERING P REPARATION OF
P ROPOSED A SSESSMENT FOR THE K ILMER P ARK S TREET R ECONSTRUCTION P ROJECT
C ITY P ROJECT N O. ST189001.001
WHEREAS, estimated costs have been calculated for the Kilmer Park Street
Reconstruction Project, City Project No 189001.001 including Pilgrim Lane North from
26th to 28th Avenue, Nathan Lane from Medicine Ridge Road to 28th Avenue, Lancaster
Lane North from 27th Avenue to 28th Avenue, Kilmer Lane from 25th Avenue to 28th
Avenue, 27th Avenue from Lancaster Lane to approximately 200 feet east of Kilmer Lane
and 28th Avenue from Pilgrim Lane to Highway 169 Service Road, and the estimated
cost for such improvement is $2,731,399.65, and the expenses incurred or to be
incurred in the making of such improvement amount to $286,338.98 so that the total
cost of the improvement will be $3,017,738.63.
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 $2,349,940.53 and the portion of the cost to be assessed
against benefited property owners is declared to be $667,798.10.
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, 2018, and shall bear the interest rate
of 3.22% percent for a 5 year term, 3.54% for a 10 year term, or 3.8% 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 13th day of March, 2018.