#13 - 2024 Street Improvements Final Assessment Hrg

Home Browse Search

STAFF REPORT DATE: October 15, 2024 FINAL ASSESSMENT HEARING AGENDA ITEM: Adopt Final Assessment Roll for the 2024 Street and Utility Improvements 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, Assistant City Engineer Mike Rusenovich, Project Engineer ISSUE BEFORE COUNCIL: The City Council is respectfully requested to hold a Public Hearing for the proposed assessments for the 2024 Street and Utility Improvements. Following the hearing, should the City Council adopt the final assessment roll? BACKGROUND: On September 17, 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 2024 Street and Utility Improvements. 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. A portion of the project is proposed to be assessed to the benefitting properties. Based on the anticipated final project costs, the street and drainage per linear foot and residential unit assessments for the Carriage Station Addition can be lowered from $155/LF to $110/LF, and from $6,000 per residential property to $4,200. The street and drainage unit assessment for the Fredrich Heights Addition (Jamaca Court N) can be lowered from $8,500 per residential property to $8,100. Assessments for street and drainage improvements will be levied over a 15-year period and charged an interest rate of 5.5%. At the preliminary assessment hearing on November 21, 2024, it was noted that Carriage Station Park was listed as Carriage Station HOA owned even though the Park has been operated and maintained as a City Park. Therefore, the 3-unit Park assessments were assigned to the Carriage Station HOA. In preparation for the final assessment hearing it has been determined that the deed transfer of the Park to the City remains incomplete, therefore the final assessment hearing continues to assign the Park assessment to the Carriage Station HOA. Once the deed has been executed and transferred to the City, the assignment of the assessment can be revised. It is advisable to that the fully executed transfer get completed prior to Certification of the Assessment to the County on November 15, 2024. FISCAL IMPACT: Attached to this agenda report is a summary of the Estimate to Completion Total Project Costs showing the cost breakdown by infrastructure component and resulting unit assessment. The estimated total project cost at completion is $2,418,000; including $2,000,000 for the street and drainage improvements and $418,000 for the water system improvements. Of these costs, $626,000 will be specially