RES 22-030 DECLARING THE COST TO BE ASSESSED AND ORDERING PREPARATION OF THE PROPOSED ASSESSMENTS FOR THE 2022 STREET AND UTILITY IMPROVEMENT PROJECT

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CITY OF ST. ANTHONY VILLAGE STATE OF MINNESOTA RESOLUTION 22-030 A RESOLUTION DECLARING THE COST TO BE ASSESSED AND ORDERING PREPARATION OF THE PROPOSED ASSESSMENTS FOR THE 2022 STREET AND UTILITY IMPROVEMENT PROJECT WHEREAS, costs have been determined for the improvement of: Street & Utility Reconstruction • Rankin Road from 33'd Avenue NE to 31s' Avenue NE Mill and Overlay • Crestview Drive from 31" Avenue NE to 29' Avenue NE • Armour Terrace from Silver Lake Road to Crestview • Bell Lane from Armour Terrace to Crestview Drive • East Gate Road from Crestview Drive to Rankin Road • Coolidge Street Alley from Murray Avenue to 29th Avenue NE • Murray Avenue/St. Anthony Boulevard Alley from Wilson Street to Coolidge Street • 29th Avenue NE/St. Anthony Boulevard Alley bounded by 29th Avenue NE • Roosevelt Street Alley bounded by St. Anthony Boulevard and Stinson Boulevard and the bid price for such an improvement is $2,123,247.60. The total cost of the improvement with contingencies, engineering, legal, and administrative fees will be approximately $2,584,200. 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 2022 Street and Utility Improvement Project to be paid by the City is hereby declared to be approximately $2,584,200 and the portion of the cost to be assessed against benefited property owners is declared to be approximately $492,700. 2. Assessments shall be payable in equal annual installments extending over a period of 15 years for the Street and Utility Reconstruction Project and a period of 10 years for the Mill and Overlay Project, the first of the installments to be payable on or before the first Monday in 2023, 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 22' day of March, 2022. on, F! Reviewed for administration: Charlie %raker, City Manager