Agenda - Council Work Session - 09/02/2003

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[DRAFT] consents to an assessment by the City in an amount equal to [20% of the costs of ....... ~ ...... I P~c ..... ~ .... l ..... ' ......... estimated cost of $ } against the ~ .............. ~ .... v ............. ~rolee~ Assessment Parcels (allocated among those parcels pursuant to the percentages set forth on Exhibit4 ), pursuant to Mi~esota Statutes, Chapter ~429. the Ci~, Cha~er and the CiW Ordnances and waives any ~d all procedural and substantive objections to a special assessment in that amount, including, but not limited to, notice and heating requirements and a claim that the amount of the special assessment exceeds the benefit to the ~;*-' '~ .............. ). ,-,vt ............ P] o.leet Assessment Parcels. Developer also waives any appeal rights othe~,ise available pursuant to Mi~esota Statutes, ........... a ...................... , ...... ~, a~cc3 t0429.081 and any rights available under the GiB, Cha~er of the CiB' Ordinances. The GiB, does not intend to leaw the special assessment until the City completes the Citl, Phase I Roadway Improvements. Until that time. the assessments shall constitute pending special assessments. Once the CiD' levies the special assessments and subject to Section 7.7 below, Developer must pa); the installments of special assessments certified for payment with annual real estate taxes when and as they become due. Ifa subsequent Final Plat for a Phase subdivides one or more of the City Phase I Roadway Improvements Assessment Parcels, the City must allodate the special assessments pending or levied against that parcel among the lots created by such Final Plat. The Developer must prepare and submit to the City, for its review, a proposed allocation of the pending or levied special assessments among the lots created by such Final Plat. The City must adopt the Developer's proposed allocation if the Developer's proposed allocation is reasonable in light of the benefit each parcel will receive fi'om the City Phase I Roadway Improvements. If the Cost of the City Phase I Roadway Improvements is greater than anticipated, the Cit~, reserves the right to levv an assessment in a ~reater amount or le~w sup4alemental assessments pursuant to Minnesota Statutes. Section 429.071. but the Developer has not. in any w'av, consented or a~greed to an assessment in an amount greater than $ ox to supplemental assessments or .,aired an'~L3ppeal ri_~ohts with respect to an assessment in an amount greater than $ or to supplemental assessments. 7.7 7.~ PREPAYMENT OF CITY PHASE l ROADWAY IMPROVEMENTS SPECIAL ASSESSMENTS UPON SALE OR TRANSFER. Under Minnesota Statutes, Chapter 429, the City may cause the amounts assessed atainst the ~;~' ~ ~,~ ...... I Roadway .... v ............. Pro3ect Assessment Parcels to be payable in a single installment or in equal. a~ual installments extending over a pehod not to exceed ~3~ years. The City will make the assessments described in Section ~7.~ above payable in equal a~ual installments extending over 15 years in consideration Gr the Developer's a~eement to pay the entire, unterrified balance of the assessment levied pursuant to Section ~7.~ above against any lot or parcel w~ch is a pa~ of the ~;+"~,~0 ~, ~,~o~ l ,-~-~ ...... ,~ -o ~'~"~'*~,,v, ~ ~"~'~ ......... ~*~_Proleet,' Assessment Parcels (whether such lot or parcel cu~ently exists or is created as a result of a subsequent subdivision of all or a po~ion of a ~;+~' ~-~ I TM ~ ...... -,,,~ ..... ~ ........ Pro.leet Assessment Parcel) upon the sale or other transfer (including but not limited to, conveyance of equitable ownership pursuant to a contract for deed) of that lot or parcel. If the Developer conveys or othe~ise transfers ownership of a lot or parcel ~,~,~r~ thc ~;*"~,~)~ ~,.~s~': ~ thc subject to the assessments Fi 1 m~, fo a ........... parcel ...........3 wiE 1555730.red \;8 tp ¥6; 8,'29/03 22