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HomeMy WebLinkAboutResolution 2021-110 Declaring Assessment Costs-Corcoran Trail East-West ProjectCity of Corcoran County of Hennepin State of Minnesota RESOLUTION NO. 2021-110 Motion By: Nichols Seconded By: Bottema September 23, 2021 PROPOSED ASSESSMENTS FOR THE CORCORAN TRAIL EASTNVEST IMPROVEMENTS WHEREAS, pursuant to Minnesota Statutes § 429.061 the costs and expense incurred and to be incurred in making the improvements of the Corcoran Trail East-West Improvement Project have been calculated and so determined; and WHEREAS, the costs and expense have been calculated for the Corcoran Trail Easfi/West Improvement Project, the improvement by reconstruction of the existing roadways of the following: Corcoran Trail East and West to the respective connections with County Road 50; and WHEREAS, the estimated cost and expense incurred and to be incurred in making such improvements is the amount of $590,438.35; and WHEREAS, Minnesota Statutes § 429.061, Subd. 1, provides that "[a]t any time after the expense incurred or to be incurred in making an improvement shall be calculated under the direction of the Council, the Council shall determine by resolution the amount of the total expense a municipality will pay, other than the amount, if any, which it will pay as a property owner and the amount to be specially assessed. •- • 1. The portion of fihe cost of such improvement to be paid by the city is estimated to be $414,038.35 and the portion of the cost to be assessed against the benefited property owners is declared to be $176,400. The City shall pay any additional costs beyond the assessed amount. 2. Assessments shall be payable in equal annual installments extending over a period of ten years, fihe first of the installments to be payable on or before November 15t", and shall bear interest at the rate of 1.83 percent per annum from the date of the adoption of the assessment resolution. 3. The City Clerk 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 he/she shall file a copy of such proposed assessment in his/her office for public inspection. Page 'I of 2 City of Corcoran County of Hennepin State of Minnesota VOTING AYE ® McKee, Tom ® Bottema, Jon ® Nichols, Jeremy ❑ Schultz, Alan ® Vehrenkamp, Dean September 23, 2021 RESOLUTION NO. 2021-110 VOTI NG NAY ❑ McKee, Tom ❑ Bottema, Jon ❑ Nichols, Jeremy ❑ Schultz, Alan ❑ Vehrenkamp, Dean Whereupon, said Resolution is hereby declared adopted on this 23rd day of September, 2021. ATTEST: ayor Jessica seise —Administrative Services Director Page 2 of 2 city year