RES 20-025 DECLARING THE COST TO BE ASSESSED AND ORDERING PREPARATION OF THE PROPOSED ASSESSMENTS FOR THE 2020 STREET AND UTILITY IMPROVEMENTS

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CITY OF ST. ANTHONY VILLAGE STATE OF MINNESOTA RESOLUTION 20-025 A RESOLUTION DECLARING THE COST TO BE ASSESSED AND ORDERING PREPARATION OF THE PROPOSED ASSESSMENTS FOR THE 2020 STREET AND UTILITY IMPROVEMENTS WHEREAS, costs have been determined for the improvement of: 2020 Street and Utility Improvement Project • Street & Utility Reconstruction o 32"d Avenue NE from Rankin Road to Croft Drive o Croft Drive from 32' Avenue NE to 31 s` Avenue NE o Storm sewer connection on 31 St Avenue NE from Croft Drive to Old Highway 8. o Silver Lake Terrace from Silver Lane to the cul-de-sac Silver Lane Mill and Overlay • Silver Lane from Stinson Boulevard to Silver Lake Road and the bid price for such an improvement is approximately $2,430,797. The total cost of the improvement with contingencies, engineering, legal, and administrative fees will be approximately $2,955,900. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of St. Anthony Village that: 1. The portion of the cost of the proposed Street and Utility Improvement Project to be paid by the City is hereby declared to be approximately $2,955,900 and the portion of the cost to be assessed against benefited property owners is declared to be approximately $320,000. 2. Assessments shall be payable in equal annual installments extending over a period of 15 years, the first of the installments to be payable on or before the first Monday in 2021, and shall bear interest at the rate of 2 percent (2%) above the City's borrowing rate at the time the bonds are issued. 3. The Consulting Engineer shall forthwith calculate the proper amount to be specially assessed for such improvement against every assessable lot, piece, or parcel of land within the district affected, without regard to cash valuation, as provided by law, and the City Clerk shall file a copy of such proposed assessment in the office for public inspection. 4. The City Clerk shall, upon the completion of such proposed assessment, notify the Council thereof. Adopted this 10th day of March, 2020. ATTEST: 27‘- Nicol Miller, City Clerk Reviewed for administration: Ran i y Still ayor Mark Casey, City Mana r