#08 - Hudson Blvd Segment A Final Assessment Hearing

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STAFF REPORT DATE: October 1, 2024 FINAL ASSESSMENT HEARING AGENDA ITEM: Adopt Final Assessment Roll for the Hudson Boulevard Improvements (Segment A) SUBMITTED BY: Jack Griffin, City Engineer REVIEWED BY: Nicole Miller, City Administrator Sarah Sonsalla, City Attorney Clarissa Hadler, Finance Director Marty Powers, Public Works Director Chad Isakson, Project Engineer ISSUE BEFORE COUNCIL: The City Council is respectfully requested to hold a Public Hearing for the proposed assessments for the Hudson Boulevard Improvements (Segment A). Following the hearing, should the City Council adopt the final assessment roll? BACKGROUND: On September 3, 2024, the City Council approved a Resolution declaring the costs to be assessed, ordering the preparation of the proposed assessment, and calling for the hearing on proposed assessment for the Hudson Boulevard Improvements (Segment A). Mailed notice has been provided to each assessed property and notice of the public hearing has been published in the local paper. PROPOSAL DETAILS/ANALYSIS: Pursuant to Minnesota Statutes, Section 429, the Council must declare the amount to be assessed against the benefitting properties and the Hearing on the proposed Assessment for these Improvements must be held. Staff has enclosed a proposed Final Assessment Roll which has been calculated in accordance with the approved Feasibility Report and the City’s Special Assessment Policy. The final assessment roll is attached to this Report showing the proposed assessment amount for each of the 10 benefitting properties. Street and drainage improvement assessments for commercial properties are based on assessing 100% of the adjusted street costs (reduced by City contributions for collector oversizing) on a lineal foot basis. With the total improvement frontage of 8,680 feet, the adjusted unit assessment for commercial street frontage is $132.00 per foot. Assessments for street improvements will be levied over a 15-year period and charged an interest rate of 5.5%. FISCAL IMPACT: The total post-bid estimated project cost is $2,615,000. The improvements may be funded through a combination of Municipal State Aid Funds, in the amount of $1,436,000; Special Assessments, in the estimated amount of $437,976, and General Tax levy funds in the estimated amount of $741,024. RECOMMENDATION: Staff is recommending that the City Council approve a resolution adopting the Final Assessment Roll for the Hudson Boulevard Improvements (Segment A). The recommended motion for this action is as follows: “Move to approve Resolution No. 2024-104, Adopting the Final Assessment Roll for the Hudson Boulevard Improvements (Segment A).”