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Home My WebLink About2010-10-06 PACKET 06.B.REQUEST OF CITY COUNCIL ACTION COUNCIL AGENDA MEETING ITEM # DATE 10/6/10 PREPARED BY Fi nance and Administrative Service Robin Roland ORIGINATING DEPARTMENT STAFF AUTHOR COUNCIL ACTION REQUEST 1. Conduct public hearing considering the assessment of the public improvements. 2. Adopt resolution adopting assessments for this project. •Pinecliff 2nd $454,792.80 STAFF RECOMMENDATION Hold the public hearing and adopt the resolution as presented. BUDGET IMPLICATION $ $ BUDGETED AMOUNT ACTUAL AMOUNT FUNDING SOURCE ADVISORY COMMISSION ACTION None SUPPORTING DOCUMENTS H • RESOLUTION: ■ ORDINANCE: ■ ENGINEERING RECOMMENDATION: ■ LEGAL RECOMMENDATION: ADMINISTRATORS COMMENTS 4 6d b 0 City Administrator Date COUNCIL ACTION TAKEN: APPROVED ❑ DENIED ❑ OTHER City of Cottage Grove Finance Memo • Administrative To: From: Date: Subject: Introduction Honorable Mayor and City Council Ryan Schroeder, City Administrator Robin Roland, Finance Director IV Brenda Peper, Financial Analyst September 30, 2010 Hold public hearing and adopt assessments for the 2010 Pinecliff 2nd special assessment The Council should conduct the public hearing and then adopt the assessments according to the attached resolution. Discussion The Council adopted resolutions declaring costs and calling for a public hearing on September 15 for this developer initiated project. The affected developer, Lennar was notified. This assessment totals $454,792.80. The projects to assess at this time is: The project is the third and final assessment for the Pinecliff 2nd streets, water and sewer improvements, storm utility, $454,792.80 street lights and area charges. The amounts are based on the developer agreement between the developer and the City. ,fiction Requested Conduct the public hearing and approve the resolution adopting the assessment for this project. PID 291,011.23 PROJECT PinecliH 2nd PROGRAM # 6605 NUMBER OF LOTS 55 CONTRACT AWARDED 4/5/2006 BONDS SOLD 179,95530 ASSESSMENT ROLL ADOPTED (6,880.00) 9/20/2006 9/19/2007 1016/2010 ASSESSMENT TERM 3 years ASSESSMENT RATE 7% INTEREST RATE tcharged) 4.5000 DEPOSIT & RECEIPT # 2114/2006 $2500 Red 25677 REVISED SUBDIVISION Bid FIRST SECOND FINAL TOTAL COSTPER DESCRIPTION ESTIMATE Amount ASSESSMENT ASSESSMENT ASSESSMENT ASSESSMENTS LOT Sanitary Sewer 291,011.23 257,044.27 324,368.90 (35,784.00) (2,500.00) 286,084.90 5,201.54 Water Main 165,000.71 179,95530 172,505.00 (6,880.00) 163,625.00 2,975.00 House Services 96,651.85 77,579.60 94,481.00 1,365.00 Engineering 95,84600 1,742.65 Storm Sewer 325,269.26 332,536.58 312,469.30 10,08800 7,095.00 319,70246 329,652.30 5,relma Street improvements 693,759.09 683,76400 233,26700 57,26781 358,383.80 389.00 648,91861 11,79852 Sidewalks and trails 81,371.62 86,849.00 80,920.00 (22682) 16,845.01 80,693A8 1,467.15 Street Lighting- installaBOn 31,437.11 31,17500 29,975.00 1,20000 Testing,Row and other 31,175.00 56662 Street Lighting- materials 21,600.00 - 21,60000 129.43 7,924.62 21,600.00 392.73 Street Lighting per agreement 5,016.00 5,016.00 495.00 495.00 5,016.00 91.20 Seal coating - per agreement 12,31434 12,314.34 200% 33,690,02 12,31434 223.90 50060 $ 1,723,431.21 $1,286,916.54 $ 25,029.99 $ 362,978.80 Finance $ 1,674,925.33 30,453.19 OTHER COSTS_ Cappiallzed interest $ 12,609.05 $ 383.77 12,992.82 23623 Engineering 18,00% 303,210.16 228,52552 32,893.67 58,28327 319,70246 5,81277 Fiscal /Bonding /Publication 1.00% 16,845.01 65.50 389.00 238.21 69271 12.59 Legal 1.00% 16,845.01 - - - - Testing,Row and other 100% 16,845.01 2,806.82 4,98837 129.43 7,924.62 14408 County Assessing Charge - 495.00 495.00 495.00 1,48500 2700 Administration 200% 33,690,02 25,391.72 50060 7,259.58 33,151.90 602.76 Finance 3.00% 50,535.03 38,087.59 750.90 10,889.36 49,727.85 904.14 Engineering Administration 4.00% 67,380.03 50,783.45 1,001.20 14,519.15 66,303.80 1,20552 SUB -TOTAL OTHER COSTS $ 505,350.26 $ 358,764.65 $ 41,402.51 $ 91,814.00 $ 491,98116 8,945.11 TOTAL ALL COSTS $ 2,228,78147 $1,645,681.19 $ 56,43250 $ 454,792.80 $ 2,166,906.49 39,39830 LESS DEPOSIT $ 4,500.00 $ 2,50000 $ 2,000.00 $ - 4,500.00 8182 TOTAL COSTS LESS DEPOSIT $ 2,224,26147 $1,643,181.19 $ 64,432.50 $ 454,792.80 $ 2,162,406.49 39,31648 AREA CHARGES: Assessed to Plat Trunk Water Area Charge 68,80202 68,802.02 - - 68,802.02 1,25095 Sanitary Sewer Area Charge 36,179.22 36.179.22 - - 36,17922 657.80 Trunk Storm Area Charge 145,679.52 145,679.52 - - 145,67962 2,648.72 TOTAL AREA CHARGES $ 250 660.76 $ 250,660.76 $ $ $ 250,660.76 4,557.47 TOTAL ASSESSMENT ROLL $ 2,474,942.23 $1,893,841 $ 64,432.50 $ 454,792.80 $ 2,413,067.25 43,67395 TOTAL ASSESSED COST $ 2,474,942.23 $1,893,841.95 S 64,432.50 $ 454,792.80 $ 2,413,06725 43,873.95 $ 34,43349 $ 1,17150 $ 8,268,96 1'. •k; l.•. 1 RESOLUTION ADOPTING ASSESSMENTS FOR PINECLIFF 2nd ADDITION UTILITY AND STREET IMPROVEMENTS WHEREAS, pursuant to proper notice duly given as required by law, the Council has met and heard and passed upon all objections to the proposed assessment of the Pinecliff 2 nd Addition Street and Utility Improvements. NOW THEREFORE BE IT RESOLVED, the City Council of Cottage Grove, County of Washington, State of Minnesota, as follows: 1. Such proposed assessment, in the amount of $454,792.80 a copy of which is attached hereto and made a part hereof, is hereby accepted and shall constitute the special assessment against the lands named therein, and each tract of land therein included is hereby found to benefit by the proposed improvement in the amount of the assessment levied against it. 2. Such assessment shall be payable in equal annual installments extending over a period of 3 years, at an interest rate of 7 %n, the first of the installments to be payable on or before the first Monday in January, 2011, and shall bear interest on the entire assessment from the date of this resolution until December 31, 2011. To each subsequent installment when due shall be added interest for one year on all unpaid installments. 3. The owner, of any property so assessed may, at any time prior to certification of the assessment to the County Auditor, pay the whole of the assessment on such property, with interest accrued to the date of payment, to the City Treasurer, except no interest shall be charged if the entire assessment is paid within 30 days from the adoption of this resolution; and she /he may, at any time thereafter, pay to the City Treasurer the entire amount of the assessment remaining unpaid, with interest accrued to December 31 of the year in which payment is made. Such payment must be made before November 15 or interest will be charged through December 31 of the next succeeding year. 4. The Director of Finance shall transmit a certified duplicate of this assessment to the County Auditor to be extended on the property tax lists of the County. Such assessment shall be collected and paid over in the same manner as other municipal taxes. 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