HomeMy WebLinkAbout25-152 - Resolution - Terminatin of Assessment Deferral - Alino AdditionCITY OF LINO LAKES
RESOLUTION NO. 25-152
AUTHORIZING TERMINATION OF ASSESSMENT DEFERRAL ON PIN # 24-31-22-21-
0003, Outlot A, ALINO ADDITION
WHEREAS, the City Council for the City of Lino Lakes previously approved Resolution No.
11-108, which adopted special assessments for the 1-35E/CSAH 14 Interchange improvements;
and
WHEREAS, several assessments against unimproved properties were deferred pursuant
to Minn. Stat.§ 429.061, subd. 2, including the assessment against PIN #24-31-22-21-0003 in
the amount of $159,310.92; and
WHEREAS, Outlot A, ALINO Addition is being platted and split into four lots as part of
the Clearwater Commons Plat and the deferred assessments amount plus accrued interest will
be redistributed; and
WHEREAS, with the platting of the property the deferral be terminated; and
WHEREAS, with accrued interest the total amount of special assessments on the
property is now $254,897.48.
NOW, THEREFORE, BE IT RESOLVED by the City Council of Lino Lakes, Minnesota that:
1. The deferral of assessments on Outlot A, ALINO Addition shall be terminated, and the
assessments reallocated as follows:
Original Legal: Outlot A, ALINO ADDITION
PIN: 24-31-22-21-0003
New Plat Name: Clearwater Commons
Area (Acres) Assessment
Lot 1, BII< 1
1.01
$18,181.25
Lot 2, BII< 1
0.63
$11,340.78
Lot 3, BII< 1
0.64
$11,520.79
Outlot A
11.88
$213,854.66
Total
14.16
$254,897.48
2. The assessments for Lots 1-3, Block 1, Clearwater Commons will be paid, in full, as part
of the Development Contract for the property. The remaining $213,854.66, allocated
to Outlot A, Clearwater Commons, shall be placed on the tax role as follows:
A. Amount: $213,854.66
B. Duration: 10 Years
C. Interest Rate: 5%
Adopted by the City Council of the City of Lino Lakes this 27th day of October, 2025.
.j, P-- '& 1-�n: 0,
Rob Rafferty, Mayor
Roberta Colotti, CIVIC, City Clerk