Laserfiche WebLink
MINUTES <br />CITY COUNCIL <br />AUGUST 28, 2013 <br />provisions in the development agreement are met including Tax Increment <br />Financing (TIF) guarantees. <br />The City Administrator reported the action for the Council this evening is <br />to declare the cost to be assessment, order preparation of assessment roll, <br />and call for assessment hearing for the Pinetree Pond improvement. The <br />Administrator reported that the total cost of Pinetree Pond improvements <br />is $855,000. That total amount is proposed to be assessed against the <br />project, which comes to $57,000 per lot. <br />McGraw introduced the following resolution and moved its adoption: <br />RESOLUTION NO. 2013 -8 -149 — DECLARING COST TO BE <br />ASSESSED AND ORDERING PREPARATION OF PROPOSED <br />ASSESSMENT FOR PINETREE POND, IMPROVEMENT NO. 2013- <br />08 <br />The foregoing resolution was duly seconded by Montour. <br />Ayes (4). <br />Nays (0). Resolution declared adopted. <br />The City Administrator pointed out that the Pinetree Pond assessment is <br />proposed to be assessed for three years versus the ten years that the City <br />typically assesses for improvements. Consequently, the proposed interest <br />rate is somewhat lower at 3.75 %. He also noted that the development <br />agreement places the assessments in a superior position to any mortgage <br />that the developer puts on the property. <br />Montour introduced the following resolution and moved its adoption: <br />RESOLUTION NO. 2013 -8 -150 — CALLING AN ASSESSMENT <br />HEARING FOR PINETREE POND IMPROVEMENT NO. 2013 -08 <br />FOR WEDNESDAY, SEPTEMBER 25, 2013 AT 7:15 P.M. <br />The foregoing resolution was duly seconded by McGraw. <br />Ayes (4). <br />Nays (0). Resolution declared adopted. <br />McMENEMY The City Administrator reported that the City of Maplewood is proposing <br />ROAD to undertake an improvement in their city which includes that portion of <br />IMPROVEMENT McMenemy Road south of Highway 36 which lies in Little Canada. The <br />Administrator reported that the Maplewood property in this area is more <br />densely developed than the Little Canada Road lots. As a result of <br />Maplewood's assessment policy and their smaller lots, the Little Canada <br />5 <br />