HomeMy WebLinkAbout1988-002 Council Resolution•
CITY OF LINO LAKES
RESOLUTION NO. 02 - 88
RESOLUTION ADOPTING THE LINO LAKES PUBLIC IMPROVEMENT POLICY DATED JANUARY
11, 1988
WHEREAS, the City of Lino Lakes has prepared a Comprehensive Land Use Plan
and a development plan for the sewer, water and street system, and
WHEREAS, The trunk facilities of the sewer and water system will benefit
all present and future users of the system, and
WHEREAS, the City Council has considered methods of financing permanent
improvements,
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LINO LAKES,
MINNESOTA:
That the Public Improvements Financing Policy dated January 11,
1988 be hereby adopted by the Lino Lakes City Council.
IIIAdopted by the City Council of Lino Lakes this 11th day of January, 1988.
AL C c A ,L, N.
Mari l n G. Anderson, Clerk - Treasurer
•
PUBLIC ::IMPROVEMENT FINANCING POLICY
CITY OF LINO LAKES, MINNESOTA
PUBLIC IMPROVEMENT FINANCING POLICY
INDEX
1 Introduction
2 Existing Developed Areas
3 Public Improvements for New Subdivisions or Undeveloped Areas
4 City Financed Improvements
5 Developer Financed Projects
Required Public
Improvements
Trunk Sewer Area and Connection
Charge
Trunk Watermaln Area and Connection Charge
Appendix A - Special Assessment Procedures
1 Project Cost Summary
2 Procedure for Assessment of Parcels Adjacent to Trunk Water and Sewer
3
Interest Rate
9
Basic Assessment Data Required for
Adjusted Front Footage Computation
Cost Allocation
Municipal State -Aid Streets
County Roads /County State -Aid
Replacement Projects
Each Parcel
Procedure
Streets
Appendix B - Resolutions
1 City Council Resolution 84 -4 Administration Costs
2 City Council Resolution 87 -76 Orthophoto Cost Recovery Procedures
1 -11 -88
_1 7777 -007
ADOPTED BY LINO LAKES CITY COUNCIL
CITY OF LINO LAKES
PUBLIC IMPROVEMENTS FINANCING POLICY
The Public Improvements Financing Policy has been prepared to provide the
Council with a policy for financing public improvements for all areas within
the City of Lino Lakes.
1. INTRODUCTION
The City Charter of the City of Lino Lakes assigns to the City Council
the responsibility for Making public improvements. It has been and
will continue to be the policy of the City Council of Lino Lakes that
when such improvements are made which are of benefit to certain areas,
special assessments will be levied not to exceed benefits received.
The procedures used by the City are those specified for Minnesota
Statutes, Chapter 429, which provide that all, or a part, of the cost
of the improvement may be assessed against benefitting properties in
accordance up to the benefits received. The statute, however, provides
no statutory guide as to how these benefits are measured or how the
costs are to be apportioned. Those actual assessment apportionments
must be made in accordance with policies adopted by the City Council
The Purpose of this general policy is to establish a consistent
standard for the apportionment of special assessments, and to provide
the public with basic information on the 'improvement process and
financing procedures. Therefore, it Is understood the following shall
constitute a statement of the policy of the City Council regarding
improvements and assessments. It is <- also , intended that the policies
shall be applicable to all land within` the City, platted or unplatted,
and shall be complimentary` to the City Subdivision Regulations, City
Charter and City' Ordinances.
2. EXISTING DEVELOPED AREAS
The financing of public improvements in existing developed areas shall-
be in accordance with Chapter 429 of the Minnesota Statutes and the
Lino Lakes City Charter. The following is a summary of the steps
required under these laws:
A. Initiation of proceedings either by Council or petition of
affected property owners.
B. Preparation of a feasibility report.
C. Public hearing on proposed improvement.
D. Ordering of improvement and preparation of plans.
Award of contract.
1 -11 -88
-2-
7777 -007
F. Issuance of bonds to finance the improvement.
G. Performance of work under contract.
H. Levy of special assessments after public hearing on proposed
assessments.
The following public improvements may be financed by the City to serve
existing developed areas. The life cycle for improvements for
assessment purposes is:
A. Trunk sanitary sewers - 30 years
B. Lateral sanitary sewers 30 years
C. Storm sewers 30 years
D. Bituminous street with concrete curb and gutter - 20 years
Bituminous street without concrete curb and gutter - 10 years
E.
Sidewalks - 10
years
. Watermain trunk lines 30 years
• Watermain lateral lines - 30 years
• Drainage ditch cleaning - 10 years (City jurisdiction)
PUBLIC IMPROVEMENTS 'FOR `NEW SUBDIVISIONS IN UNDEVELOPED AREAS
The .financing of public Improvements in undeveloped areas or proposed
new developments by 'the City will require the developer to submit a
plan with specific protect information at the time a request is made
for installation of public improvements by the City. The information
provided to the City shall include:
A. A preliminary plat or site plan meeting the requirements of
Section 1001.05 (Subdivision and Platting) of the Lino Lakes City
Code.
B. An overall grading plan showing existing contours at 21 intervals
in dashed lines and proposed contours in heavier solid lines.
Minimum basement floor elevations of all proposed buildings shall
be shown. The - grading plan shall be accompanied by a soils
investigation to determine general soil conditions of the site,
groundwater elevations, and recommendations for foundation design
and installation.:
1 -11 -88
Orthophoto contours at 2! intervals may be available from the
City of Lino Lakes.
. Proposed protect time schedule for installation of public
improvements and development of land.
-3
7777 -007
D. Proposed financing plan of developer for land development.
E. Assurance that the proposed assessments will be paid in
accordance with the City of Lino Lakes Public Improvements
Financing Policy.
Prior to any action on the part of the City to determine the
feasibility of providing public improvements, the developer shall'
deposit such amount as determined by the City Clerk to adequately
reimburse the City for all engineering, legal, planning' and other
consultant fees for work performed in regard to such Improvements.
The developer shall be required, prior to the City ordering the
installation of any City- financed Improvements, to file a final plat
and to enter into a Development Agreement insuring compliance with the
policies set out herein and all subdivision requirements of the City.
The developer shall also be required to post all cash deposits or
letters of credit prior to such action by the City Council.
CITY - FINANCED IMPROVEMENTS - NEW SUBDIVISIONS
In all projects which the City constructs and finances, the following
security provisions' shall apply.
The developer shall deposit with. the City a letter of credit or
cash escrow deposit of "not less than thirty -five percent (35 %)- of
the estimated project cost as determined by the City Engineer.'
Protect costs to include internal improvements involved with the
plat only. l f, the proJect costs determined after receipt of bids
for construction exceed the Engineer's 'estimate by ten percent
(10 %) or more, the cash escrow deposit or ,letter of credit shal
be increased proportionately.
The total project cost shal 1 be assessed in equal annual
installments over a period not to exceed fifteen (15) years at an
interest rate of 2% over the interest rate on the protect
improvement bonds. The cash escrow or letter of credit shall
remain intact until the outstanding principal of assessments
against the property is equal to or less than the cash escrow or
letter of credit,' plus accrued interest. At such time the cash
escrow or letter of credit with accrued interest deposit, shall
be used to pay the balance of the principal outstanding.`
Assessments on a lot shall be paid in full within sixty days
after a certificate of occupancy is issued for a building on any
lot whether such lot is owned by the developer, his heirs,
successors or assigns.
B. In the case where the improvements benefit not only the property
being developed, but other areas within the City, the developer
shall provide to the City a security deposit in accordance with
subsection A. above for the portion of the estimated protect
costs which represent the benefit to the proposed development.
Such portion shall be assessed against the property as outlined
in subsection A. above.
1 -11 -88
-4- 7777 -007
C. Where trunk sanitary sewers or watermains are constructed to
serve undeveloped areas, the trunk costs and connection costs
may be assessed on a per acre basis and included with the
assessments levied under the procedure outlined in subsection A.
above.
D. In areas where trunk sanitary sewers or watermains are
constructed to serve undeveloped areas, the City may determine to
assess the trunk costs by the use of unit connection charges to
be paid at the time building permits are issued, or at the time
the lateral sewer and /or water assessment is made. The City
shall determine the number of Sanitary > sewer, and /or water
:connections to be made in the proposed development served by the
trunk systems and shall require that the estimated connection
charges for the development be added to the estimated protect
cost and included d` in the security deposit. In the event the
connections are not made to the public sanitary sewer and /or
water systems and the. .charges paid by the end of the financing
period, then the connection` charges wouldbe paid from the
available security deposit. If the funds available are not
.sufficient to pay the connection charges, :the additional cost
shall be assessed; against the development in equal annual
installments over a ,period of two years.
Assessment rolls shall be submitted to the County Auditor and
semi - annual payments shall be payable to the City Clerk on , April
15 and September 15 of each year The City shall obtain an
assessment status report from the County Auditor on April 15 and
September 15 of each year
F. The City reserves the= 'right to withhold building permits for
violation of any terms or conditions of this policy or the
development agreement.
G. The City reserves the right to limit the number of building
permits issued prior to completion and acceptance of the
improvements by the City.
5. DEVELOPER- FINANCED IMPROVEMENTS
A development agreement shall be executed which shall include the
following conditions:'
A. Guaranteed completion of the improvements according to a schedule
to be determined by the City Engineer.
B. Payment by the developer to the City for preparation of review of
any feasibility report, plans and specifications and for
inspection by the City`, Engineer.
1 -11 -88
7777 -007
C. Assurance that the developer will conform with current testing
requirements and quality control procedures of the City of Lino
Lakes and provide documentation from a quaff ified testing
laboratory and /or registered professional engineer that the
protect has been constructed in accordance with the requirements
of the approved plans and specifications:
D. A cash escrow or letter of credit shall be posted to guarantee
installation of such improvements. it shall be in an amount
equal to 150% of the City Engineer's estimated project cost.
The project costs shall also include one percent (1 %) of the
costruction costs for aerial photo cost recovery, as required by
Resolution 87 -76.
The project costs shall include all previously unpaid trunk sewer
and /or water area charges and connection charges.
If the required improvements are not completed within the time
period in the development agreement, the City may proceed to
complete the improvements by .contract or force account and obtain
reimbursement of its costs from the posted security deposit. If
the funds avallable are not sufficient to complete the required
improvements, the additional cost shall be assessed against the
development in equal' annual installments over a period of two
years.
F. Should the developer elect to install a portion of the required
Improvements and petition the City for the remainder, the
requirements of this Policy shall apply to those respective;
portions of the i mprovements.
The City reserves the right to withhold building permits for
violation of any terms or conditions of this policy or the
development agreement.
The City reserves the right to limit the number of building
permits issued prior to completion and acceptance of the
improvements by the City.
The security deposit shall be irrevocable for the full term of any
assessments for which given or for the full period of construction of
the improvements' by the developer, whichever is applicable. The
agreement shall be so conditioned as to guarantee payment of the
assessments as due or to pay for the cost of improvements which the
developer agreed to install.
The required security deposit may consist of a cash escrow or an
irrevocable letter of credit, in a form acceptable to the City Attorney
and with firms authorized to do business in the State of Minnesota.
1 -11 -88
-6-
7777 -007
6. REQUIRED PUBLIC UffTWFMENTS
The following is a detailed description of public improvements required
to be completed for each development. The specifications for all
public Improvements are on file with the City Clerk.
A. Grading
Subdivision grading, including preliminary grading of the
streets, and construction of the storm water ponding areas to be
designed and installed by the developer and approved by the City.
A grading permit is required by the City of Lino Lakes.
B. Sanitary Sewer Facilities
If available, public sanitary sewer service to be designed and
installed by the City. Such service shall consist of adequate
sanitary sewer facilities including installation of sewer service
lines to the property line and laterals within the public right-
of -way
Water Facilities
If available, public water service to be designed and installed
by the City. Such service shat l consist of adequate water
facial ities, including hydrants and water service lines to the
property line.
Storm Sewer
n areas where "publ lc sanitary sewer and water are' designed` and
Installed. by the City the storm sewer system, Includinglaterals,
catch basins, %leads to catch basins, and culverts, are to be
designed and installed by the City.
In areas where on -site sewage disposal and water supply systems
are utilized," storm sewer systems, including laterals,-. catch
basins,` leads to catch basins, and culverts, are to be designed
and installed by the developer. The developer may petition the
City to design and install said facilities.
E. Streets
In areas where public sanitary sewer and water are designed and
installed by the City, the public streets shall also be designed
and installed by the City.
In areas where on -site sewage disposal and water supply systems
are utilized, public streets are to be designed and installed by
the developer. The developer may petition the City to design and
install said.faciiities.
1 -11 -88 7- 7777 -007
Street and Traffic Signs
Street and traffic signs at all intersections within or abutting
the subdivision are to be installed by the developer, In
accordance with a design approved by the City Engineer and Public
Works Director. The developer may petition the City to install
said signs.
G. Sidewalks
Public sidewalks along arterial or collector streets as required
by the City are to be installed by the developer and approved by
the City. In areas where public sanitary sewer, watermain,
streets and drainage are designed and 'installed by the City,
sidewalk if necessary shall be included in the improvement
project.
H. Street Lights
Public street lights as required by the City are to be designed
and installed by the developer, in accordance with a design
approved ::by the City Engineer 'and Public Works Director. The
developer may- petition the City todesign and. install said street
Lighting facilities.
TRUNK SEWER AREA AND CONNECTION CHARGES
A Permanent Improvement: Revolving Fund shall be established to finance
lift stations, forcemains,sewer mains over 8" in diameter, Jacked or
bored highway crossings and sewer l aterai s' to 'extend service to an area..{
adjacent to the improvement project, hereinafter referred to as trunk
sewer mains.
Each individual connection to the sanitary sewer system shall be
charged an area charge of $1,500 per acre and a connection charge of
$650.00 per SAC unit. The area charge shall be based on total lot
acreage including street area. The connection charge shall be based on
the procedure outlined in the Twin Cities Area Metropolitan Waste
Control Commission Reserve Capacity Manual.
Area charges and connection charges are based on an ENR Cost Index of
4352 and shall be adjusted annually (January 1) using the National ENR
Cost Index. The area charge and connection charge shall be added to
the special assessment for the project improvement.
8. TRUNK WATERMAIN AREA AND CONNECTION CHARGE
A Permanent improvement Revolving Fund shall be established to finance
wells, pumphouses, elevated tanks and watermain over 8" in diameter,
Jacked or bored highway crossings and watermain extended for the sole
purpose .of servicing an adjacent area, hereinafter referred to as trunk
waterma i ns.
Each individual connection to the watermain system shall be charged an
area charge of $1,600 per acre and a connection charge of $1,050 per
SAC unit. The area charge shall be based on total lot acreage
including street area. The connection charge shall be based on the
procedure outlined in the Twin Cities Area Metropolitan Waste Control
Commission Reserve Capacity Manual.
Area charges and connection charges are based on an ENR Cost Index of
4352 and shall-be adjusted annually (January 1) using the National ENR
Cost Index. The area charge and connection charge shall be added to
the special assessment for the project improvement.
1 -11 -88
-9- 7777 -007
APPENDIX A
CITY OF LINO LAKES
PUBLIC IMPROVEMENTS FINANCING POLICY
SPECIAL ASSESSMENTS PROCEDURES
1. PROJECT COST SUMMARY
After a project is 850 to 100% completed, the City Engineer shall
prepare a project cost summary using the data from the project cost
data report prepared by the City Clerk. The summary wi l I include al 1
project expenses including but not limited to:
A.
Construction Costs
Publication Costs and Permit Fees
Legal Fees
Engineering Costs
. Administration Costs in
Resolution 84 -4.
accordance
with
the City Council
Capitalized, Interest. Capitalized interest shall be .computed at
the rate of the. bond sale from the-date of the bond sale to the
date .the assessment roll is approved by the City Council. Any
interest earned M on.�,;investment of the bond proceeds shall be
deducted'from'the° above amount.
Bond sale expenses including bond attorney fees, bond consultant'
fees, and printing costs.
• Aerial photo cost recovery in accordance with City Council
Resolution 87 -76.
After the proJect summary is reviewed and approved by the City Clerk,
the City Engineer shall' prepare a proJect assessment roll. The project
assessment roll shall include the trunk sewer and water area charge and
the connection charge for sewer and water. The .SAC charge payable to
the Metropolitan Waste Control Commission shall be collected at the
time the building permit;Is issued.
2. PROCEDURE FOR ASSESSMENT OF PARCELS ADJACENT TO TRUNK WATER AND SEWER
City policy is to not assess area charges and connection charges for
sewer and water until the benefitted property owner requests connection
to the utility. In those areas where a property abuts a trunk sewer or
a trunk watermain and no assessment has been made against the property,
the property owner may connect to the trunk main and pay the current
area charge and connection charge. A front footage charge will also be
assessed based on the weighted average of all equivalent proJect
assessments for the "past three years adjusted by the ENR Cost Index.
1 -11 -88
-10- 7777 -007
The property owner w i 1 I have the option of paying the above costs or
having the cost assessed over a 15 -year period. The Building Official
will obtain a signed petition requesting the assessment, and the
Engineer will compute the cost based on the legal description and the
above stated policy, and the City Clerk will maintain a petition file.
An assessment roll will be prepared in August of each year and
submitted to the City Council. A public hearing will -be held in
September and the assessment roll submitted to Anoka County in October.
The City Clerk and Engineer shall maintain records showing areas that
have been assessed.
3. INTEREST RATE
The interest rate to be used for special assessments will be 2% above
the rate that the City pays on long -term improvement bonds. This -rate
shall be determined by the City's f iscal' consultant.
4. BASIC ASSESSMENT DATA REQUIRED FOR EACH PARCEL
Area
(used for storm sewer and area -wide assessments)
Area used is the gross area
each separate improvement.
of the parcel as it is benefltted by
All ;property: within "district boundaries is to be included.
District boundaries are determined by the City Engineer.
r.operty wi l I, be assessed. Permanent ponding
outlets and street' right-of-way shall be exempt:
See Group 1, Example 1.
Adjusted Front Footage (used for al l improvements except storm
sewer)
In the adJusted front footage method, odd - shaped lots are
adjusted to an average frontage that would be equivalent to the
frontage of a rectangularly shaped lot of the same area and
depth.
5. ADJUSTED FRONT FOOTAGE COMPUTATION PROCEDURE
A. Odd- Shaped Lots (A)
For odd- shaped lots, such as exist on culs -de -sac or triangular
intersections, etc., the adjusted front footage is computed by
dividing the area of the lot, up to a maximum distance of 150
feet from the street where the improvement is to be installed, by
150 (or the average depth if less than 150 feet).
1 -11 -88
-11- 7777 -007
. Approximately Rectangular Lots (B)
For a lot which Is approximately rectangular, the adJusted front
footage is computed by averaging the front and back sides of the
lot. I f the lot is deeper than 150 feet, the width at the 150
foot depth Is used for the back lot line.
. Rectangular Lots (C)
For the normal rectangular lot, the adjusted front footage is the
actual front footage of the lot.
. Shallow Lots (D)
For rectangular lots under 130 feet in depth, or irregular lots
averaging Tess than 130 feet in depth, the adjusted front footage
is determined by actual lot area divided by 130 feet.
See Group 11, Example 3.
. Corner Lots (E)
1 -11 -88
Corner 'tots are to be assessed as any interior lot. The short
side shall determine the assessable frontage. The depth of 150
feet shall determine the maximum depth of assessable area. Side
frontage shall be assessed only for frontage in excess of 150
feet.
When improvements along the short frontage precede those along
the side. (long frontage) only the short frontage Is assessed.
mprovements "' subsequently ` constructed along the long side will be
assessed only for frontage in excess of 150 feet.
When improvements along the side lot (long frontage)' precede
those along the short frontage, the adJusted frontage shall be
the short side plus side frontage in excess of 150 feet (see`
Example 4).
In all cases where side lot exclusion or deferred construction
results in non-assessable frontage along the proposed
improvement, costs for such improvements shall be included in the
protect cost and allocated and assessed against all other
assessable frontage..
Large Tracts (F)
Large tracts may have adJusted front footage on two or more
sides. This adJusted front footage shall apply only to
improvements on the particular street upon which the adJusted
front footage faces. The corners of-these large tracts shal 1 be
considered as side lots. A distance of 150 feet back from the
corner on one of the streets at each street intersection shall be
considered as the side of the lot and will not receive an
adJusted front footage assessment. Corner credits are given on
last side assessed.
-12- 7777 -007
See Group 11, Examples 4, 5, 6 and 7.
Double Frontage Lots
For double frontage lots, 150 feet or Tess in depth, a single
adjusted front footage is computed by using method A, B, C or D.
If the lot is more than 150 feet in depth, the area within the
first 150 feet of depth abutting the primary access is divided by
150 to arrive at the first adjusted front footage. The balance
of the lot is then used in computing the second front footage by
using method A,: 13, C "or D.
If the second frontage abuts a major arterial street where
restricted access is desired by the City, an exemption for the
first 150 feet of such second frontage may be granted upon
receipt by the City of such a formal access restriction executed
by the property owner.- Such formal access restriction shall be
in the form of a deed to the City of Lino Lakes, with a minimum
of ten feet.
See Group I, Example 8.
. Neck Lots { 1)
For lots which have a small frontage on, a street, with a narrow
strip' running back for access, an adjusted frontage is calculated
using method A, B, C. or D on the portion of the lot being
provided service through the narrow strip.
See' Group``1 1, Example 9.
1. Areas Partially Served by Utilities
For any tract or :parcel which is only partially served by water
or sewer lateral, only that part so served will be assessed and
computed as adjusted front footage for the particular protect for
which the assessment is figured.
6. COST ALLOCATION
With regard to public and private benefit the policy in Lino Lakes is
as follows:
A. Street Surfacing
100% of the cost of street grading, base and street surfacing
improvements shall be allocated and assessed against the
benefitted property.
-13-
7777 -007
. Concrete Curb and Gutter
100% of the cost for alI work involved in the QrigIIlal
construction of concrete curbs and gutters shall be allocated and
assessed against the benefitted property.
• Sidewalks
100% of the cost for a l l work involved in the Qr igIn L
construction of residential sidewalks shall be allocated and
assessed, against the benefitted property.
Sewers
100% of the cost for new sewers will be be allocated and assessed
against the benefitted property. Trunk area charges and
connection charges may also be assessed against the benefitted
properties.
. Water Lines
100% of the cost for new water lines will be be allocated and
assessed against the benefitted property. Trunk area charges and
connection charges may also be assessed against the benefitted
properties,
• Alleys
Construction and improvement of alleys, where required, shall be
100% assessed against the benefitted property.
• Frontage Road
Where a frontage road is required to serve an area, the total
cost of the road will be assessed against the total benefitted
area, which may include more than the property abutting the
frontage -road.
Street Lights
There is no assessment for City standard street lights in
existing developed'areas.
Street lights In newly developed plats will be in accordance with
City Code.
I. Public Property
Publicly owned (churches, schools, parks, etc.) shall be subject
to special assessment on the same basis as private property.
MUNICIPAL STATE -AiD STREETS
Certain streets within the City of Lino Lakes are designated as
Municipal State- Aid (MSA) streets and can be constructed utilizing MSA
funds. These projects must be constructed in accordance with MSA
standards.
1 -11 -88
-14- 7777 -007
Property adjacent to projects constructed under MSA standards shall be
assessed as follows:
A. Street Surfacing and Concrete Curb and Gutter
The rate used shall be equivalent to a standard residential
street assessment in other areas of Lino; Lakes. The rates shall
be computed by using the weighted average of the previous three
years for street construction adjusted by the ENR Cost Index.
Storm Sewer
100% of the total actual storm sewer construction costs shall be
assessed 'against the _benefitted property.
COUNTY ROADS AND /OR COUNTY STATE -AID . STREETS
Certain streets within the City of Lino Lakes are designated as County
Roads and /or County State -Aid streets and can be constructed utilizing
County funds. These projects must be constructed in accordance with
County standards.
Property adjacent to protects constructed under County standards shall
be assessed as follows:
▪ Street Surfacing and Concrete Curb and Gutter
The rate used shall b,e` equivalent to a standard residential
street assessment , in other areas of Lino ° Lakes. The rates shall
be computed by using the weighted average of the previous three
years for street construction adjusted by the ENR Cost Index.
. Storm Sewer
100% of the total actual storm sewer construction costs shall be
assessed against the benefitted property.
10. .r REPLACEMENT PROJECTS
Section 2 on page 3 of this policy establ ishes a life cycle expectancy
for each type of improvement. If a street or utility is replaced
before the life __expectancy of the : protect is utilized, the assessment
for the replacement project will be computed by using the methods
outlined in this manual and prorating the -cost against the remaining
years of the original protect life expectancy.`
100% of the cost of street base and surfacing on replacement protects,
that were not originally built to current City standards, shall be
allocated and assessed against the benefitted property.
1 -11 -88
-15-
7777 -007
•wr
•
RESOLUTION # 84-4
RESOLUTION ESTABLISHING A POLICY FOR MUNICIPAL COSTS RELATING
TO BONDED LOCAL IMPROVEMENTS FOR PRIVATE DEVELOPERS.
WHEREAS,
in response to DeLaHunt Voto & Co., Ltd's management
Report and Recommendations stating the need for a
policy to recoup municipal costs on improvement
projects, it is recommended that the City of Lino
Lakes should adopt such a policy as it relates to
municipal costs for public improvement projects
requested by developers for bonding, and
WHEREAS, these municipal costs would include the following:
1.
•
Negotiating financing
•
Preparation of official statements
Management and annual review of assessment
records, and
the City would apply a percentage against the total
project cost and the total amount of reimburseable
funds for each project will be distributed annually
based on the length of the bond debt,
NOW ',THEREFORE,;4BEIT.RESOLVED, that:
The Lino Lakes City Council hereby adopts the following step
down approach recommended for use on. improvement projects:
Project Cost % applied by City
$1.00 - 10,000.00 5%
over 10,000.00 - 50,000.00
4%
over 50,000.00 - 100,000.00 3%
over 100,000.00 2%
Passed by the Lino Lakes City Council this (s - day
of ...1..Pda-L.t.h...1 , 1984.
ATTEST:
iz4.- •
Li
•
(., .1.qq 0
on Mayor omm
ommou,
Edna L. Sarner, Clerk
itOORT:
,L:uac