HomeMy WebLinkAbout2005-168 Council Resolution•
CITY OF LINO LAKES
RESOLUTION NO. 05 -168
RESOLUTION ADOPTING ASSESSMENTS
LEGACY AT WOODS EDGE
WHEREAS, pursuant to the Contract for Subdivision /Planned Unit Development dated
December 21, 2004 and the Petition and Waiver Agreement, dated December 20, 2004
by and between Legacy Holdings -LL, LLC (Developer) and the City of Lino Lakes, the
Developer waives all rights to a hearing on the levy of special assessments for local
improvements which will benefit the properties within the Legacy at Woods Edge
Development, and
WHEREAS, as of the date of approval of this resolution, the Developer owns all the
property benefited by the subject improvements;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF LINO LAKES,
MINNESOTA:
1. Such proposed assessment, a copy of which is attached hereto and made a part
thereof, is hereby accepted and shall constitute the special assessment against
the lands named therein, and each tract of land therein included is hereby found
to be benefited by the proposed improvement in the amount of the assessment
levied against it.
2. Such assessment shall be payable in equal annual installments extending over a
period of fifteen years, the first installment to be payable on or before the first
Monday in January, 2006, and shall bear interest at the rate of seven percent
(7 %) per annum from the date of the adoption of this assessment resolution. To
the first installment shall be added interest on the entire assessment from the
date of this resolution until December 31, 2005. To each subsequent installment
when due shall be added interest for one year on all unpaid installments.
3. The owner of any property so assessed may, at any time prior to certification of
the assessment to the County Auditor, pay the whole of the assessment on such
property, with interest accrued to the date of payment, to the City Treasurer,
except that no interest shall be charged if the entire assessment is paid by
November 24, 2005; and the owner may, at any time thereafter, pay to the City
Treasurer the entire amount of the assessment remaining unpaid, with interest
accrued to December 31 of the year in which such payment is made. Such
payment must be made before December 11 or interest will be charged through
December 31 of the next succeeding year.
4. The clerk shall forthwith transmit a certified duplicate of this assessment to the
County Auditor to be extended on the property tax lists of the County. Such
assessments shall be collected and paid over in the same manner as other
municipal taxes.
Adopted by the Cou cil of the City of Lino Lakes
Jeans er, Deputy Clerk
" day ctober, 2005.
ohn
J. er, son, Mayor
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STAFF ORIGINATOR:
CITY COUNCIL
MEETING DATE:
TOPIC:
VOTE REQUIRED:
BACKGROUND:
AGENDA ITEM 6H(i)
Michael Grochala
October 24, 2005
Resolution No. 05 -168, Adopting
Assessments, Legacy at Woods Edge
3/5 Vote Required
The City has commenced with the public improvements for the Legacy at Woods
Edge project. Pursuant to the Petition and Waiver Agreement and
Subdivision /Planned Unit Development Agreement, the property owner has
waived any and all procedural and substantive objections to the installation of
City improvements and the special assessments. The total amount to be
assessed is $5,382,865.
OPTIONS:
1. Adopt Resolution No. 05 -168, Adopting Assessments for the Legacy at
Woods Edge Development Project.
2. Not Adopt Resolution No. 05 -168.
3. Return to staff for further review.
RECOMMENDATION:
Staff recommends Option No. 1.