Agenda - Council - 11/12/2013 - Laserfiche WebLink

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$13,426.00, against the Property including, but not limited to, notice and hearing requirements, claims that the Property, or any part thereof, does not receive a benefit from the City Phase II Roadway Improvements claims that the assessment is not uniform upon the classes of property and claims that the amount of the special assessment allocated to the Property exceeds the benefit to the Property. Secondary Developer also waives any appeal rights otherwise available pursuant to Minnesota Statutes, Section 429.081 and any rights available under the City Charter or the City Ordinances. The consents and waivers set forth in this section run with title to the Property and are binding on Secondary Developer and its successors and assigns. The City does not intend to levy this special assessment until the City completes the City Phase II Roadway Improvements. Until the City levies the special assessment, the special assessment constitutes a pending special assessment. Once the City levies the special assessment against the Property, the amount of the special assessment set forth above shall be paid in a single installment to the City. As security to ensure payment of the special assessment for the City Phase II Roadway Improvements and the City Phase II Utility Improvements, Secondary Developer shall provide the City a letter of credit in form and substance acceptable to the City in the amount of $13,426.00. Payment of the special assessment shall be disbursed in accordance with the letter of credit. If the cost of the City Phase II Roadway Improvements is greater than anticipated, the City reserves the right to levy an assessment in a greater amount or levy supplemental assessments pursuant to Minnesota. Statutes, Section 429.071, but the Secondary Developer has not, in any way, consented or agreed to an assessment in an amount greater than $13,426.00 or to supplemental assessments or waived any appeal rights with respect to an assessment in an amount greater than $13,426.00 or to supplemental assessments. h. Phase I Parking Ramps. Section 9.6 of the Master Development Agreement provides for the assessment of a portion of the costs of the Phase I Parking Ramp against the Property. Minnesota Statutes Chapter 429, the City's Charter and the City's Ordinances authorize the City to assess the costs of the Phase I Parking Ramp against the Property. Secondary Developer hereby consents to an assessment by the City in an amount equal to $240,000.00 against the Property for the Phase I Parking Ramp. The amount of the assessment is calculated by multiplying 4.0% times $6,000,000.00 in accordance with the Master Development Agreement. Secondary Developer waives any and all procedural and substantive objections to a special assessment in the amount of $240,000.00 against the Property, including, but not limited to, notice and hearing requirements, claims that the Property, or any part thereof, does not receive a benefit from the Phase 1 Parking Ramp, claims that the assessment is not uniform upon the classes of property and claims that the amount of the special assessment allocated to the Property exceeds the benefit to the Property. Secondary Developer also waives any appeal rights otherwise available pursuant to Minnesota Statutes, Section 429.081 and any rights available under the City Charter or the City Ordinances. The consents and waivers set forth in this section run with title to the Property and are binding on Secondary Developer and its successors and assigns. Until the City levies the special assessment, the special assessment constitutes a pending special assessment. Once the City levies the special assessment against the Property, the amount of the special assessment set forth above shall be paid in a single installment to 6