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RESOLUTION 9064 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA APPROVING THE FINAL PAYMENT FOR THE 2018 BUSINESS PARK NORTH STREET RECONSTRUCTION PROJECT, DECLARING THE AMOUNT TO BE ASSESSED AND SET PUBLIC ASSESSMENT HEARING WHEREAS, the City Council approved the Business Park North Street Reconstruction Project and awarded the project to Northwest Asphalt Inc. of Shakopee MN; and WHEREAS, Northwest Asphalt Inc. completed all project construction and met all other contract requirements for the Project with a substantial completion date of October 19, 2018 and a final construction cost of $758,514.14; and WHEREAS, City Staff and its engineering consultant, Stantec Consulting Services, recommend accepting the completed construction work and issuing final payment for $266,513.42 to Northwest Asphalt Inc.; and WHEREAS, the street improvements for the Business Park North Street Reconstruction have been discussed for several years and is to be assessed in accordance with Chapter 202 of the Municipal Code; and WHEREAS, the City Council must also approve the amount to be assessed to the property owners in the Business Park North and that total is $758,514.14; and WHEREAS, The Council must also hold a Public Hearing regarding the assessments established as part of improvement for the Business Park North Street Reconstruction project. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Mounds View, Ramsey County, Minnesota as follows: 1. Accepts work completed under the contract between the City and Northwest Asphalt Inc, for the 2018 Business Park North Street reconstruction project. 2. The Finance Director is authorized to issue final payment for $266,513.42 to Northwest Asphalt Inc, for completing construction of the project 3. Approves the total amount to be assessed to the property owners in the Business Park North at $758,514.14. 4. The assessment will be 12.5% of the total project costs for each property, the assessment will be for 10 years on their property taxes and a $35.00 administrative fee will be charged per assessment amount if prepayment is not made. 5. Sets the Public hearing for these assessment for Monday, February 25, 2019 at 6:30pm.