HomeMy WebLinkAboutResolution 6244
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RESOLUTION NO. 6244
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
ESTABLISHING FINANCING FOR THE MOUNDS VIEW MANUFACTURED
HOME PARK SECOND ACCESS PROJECT
WHEREAS, at the February 2, 2004 Work Session, Staff presented three
funding options for installation of the second access for the Mounds View
Manufactured Home Park; and
WHEREAS, City Council indicated that they would be agreeable to
splitting the cost based on where the work was occurring (city right-of-way versus
private property). As a result, Council selected Option NO.2 as the preferred
option; and
WHEREAS, the cost split between City and Manufactured Home Park
would be $28,650 I $17,350 respectively under option No.2; and
WHEREAS, on May 4, 2004, the City secured a Community Development
Block Grant (CDBG Grant) for the purpose of installing a second access in the
amount of $30,000.00; and
WHEREAS, there are an infinite number of ways the grant monies could
be applied to this project; and
WHEREAS, the City Council has not ordered this project; and
WHEREAS, the purpose of determining the finances and funding sources
for providing a second access is so this information can be communicated to the
owner of the Mounds View Manufactured Home Park; and
WHEREAS, there are other financial factors that should be determined,
such as the rate of assessment and payback period.
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NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Mounds View, Ramsey County, Minnesota as follows:
1. The amount to be assessed to the Mounds View Manufactured
Home Park will be determined by taking the total project cost,
multiplying it by 37.7 percent, then subtracting the grant amount
multiplied by 37.7 percent.
2. Assessments shall be payable in equal annual installments
extending over a period of ten (10) years, the first of the
installments to be payable on or before the first Monday in January,
2005, and shall bear interest at the rate of 5.0 percent per annum
from the date of the adoption of the assessment resolution.
3. Said rate and period will be applied to this project contingent on the
property owner submitting a petition of public improvement by no
later than July 1, 2004.
Adopted this 10th day of May 2004.
(ATTEST)
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Kurt Ulrich, City Administrator