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CITY OF ST. ANTHONY VILLAGE <br />STATE OF MINNESOTA <br />RESOLUTION 18 -019 <br />A RESOLUTION DECLARING THE COST TO BE ASSESSED <br />AND ORDERING PREPARATION OF THE PROPOSED ASSESSMENTS <br />FOR THE 2018 STREET AND UTILITY IMPROVEMENTS <br />WHEREAS, costs have been determined for the improvement of- <br />Street & Utility Reconstruction <br />• MacAlaster Drive NE from 37" Avenue NE to the railroad tracks <br />• Foss Road from 37" Avenue NE to Chandler Drive NE <br />• Highcrest Road NE north of 37^ Avenue NE <br />Backyard Drainage Improvements <br />• Drainage from the parking lot serving the apartments located at 3727 Foss Road, <br />3721 Foss Road, and 3713 Foss Road outletting to Mirror Lake. <br />Water Reuse Retrofit <br />• Central Park Splash Pad <br />and the bid price for such an improvement is approximately $2,283,000. The total cost of <br />the improvement with contingencies, engineering, legal, and administrative fees will be <br />approximately $2,804,500. <br />NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of St. Anthony Village that: <br />1. The portion of the cost of the proposed Street and Utility Improvement Project to be paid by the City <br />is hereby declared to be approximately $1,853,500 and the portion of the cost to be assessed against <br />benefited property owners is declared to be approximately $951,000. <br />2. Assessments shall be payable in equal annual installments extending over a period of 15 years, the <br />first of the installments to be payable on or before the first Monday in 2019, and shall bear interest at <br />the rate of 2 percent (2 %) above the City's borrowing rate at the time the bonds are issued. <br />3. The Consulting Engineer shall forthwith calculate the proper amount to be specially assessed for <br />such improvement against every assessable lot, piece, or parcel of land within the district affected, <br />without regard to cash valuation, as provided by law, and the City Clerk shall file a copy of such <br />proposed assessment in the office for public inspection. <br />4. The City Clerk shall, upon the completion of such proposed assessment, notify the Council thereof. <br />Adopted this 13' day of February. 2018. <br />Hal Gray, Mayor Pro Tem <br />ATTEST: <br />Nicc a Miller, City Clerk <br />Reviewed for administration: Gil <br />Mark Casey, CiKy Manager <br />