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HomeMy WebLinkAbout2005-174 Council ResolutionCITY OF LINO LAKES RESOLUTION NO. 05 -174 RESOLUTION ADOPTING ASSESSMENT FOR THE TURNBERRY CROSSING DEVELOPMENT PROJECT WHEREAS, pursuant to the development agreement dated March 28, 2005, the developer waives all rights to a hearing on the conducting of local improvements which will benefit the properties within the Turnberry Crossing Development, 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 Council of the City of Lino Lakes this 24th day of October, 2005. Jea er, Deputy Cler John : Be • eson, Mayor AGENDA ITEM 6Hii STAFF ORIGINATOR: James E. Studenski, City Engineer COUNCIL MEETING DATE: October 24, 2005 TOPIC: Resolution Nos. 05 -169 to 05 -176, Adopting Assessments, 2005 Development Projects. VOTE REQUIRED: 3/5 Vote Required BACKGROUND: The following development projects are substantially complete, and therefore City Staff is prepared to adopt the assessments accordingly: Development Development Agreement Date Angie's Acres June 13, 2005 Foxborough August 22, 2005 Highland Meadows East 2nd March 28, 2005 Millers Crossroads 2nd March 28, 2005 Oakwood View July 25, 2005 Turnberry Crossing March 28, 2005 Vaughan Addition April 11, 2005 West Shadow Ponds 2nd April 11, 2005 In the above referenced Development Agreements, the property owner waives any and all procedural and substantive objections to the installation of City improvements and the special assessments. Each developer has reviewed and approved the assessments, respectively. OPTIONS: 1. Adopt Resolution Nos. 05 -169 to 05 -176, Adopting Assessments for the 2005 Development Projects. 2. Not Adopt Resolution Nos. 05 -169 to 05 -176. 3. Return to staff for further review. RECOMMENDATION: Staff recommends Option No. 1.