Resolution - #97-05-141 - 05/27/1997

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Councilmember Haas Steffen introduced the following resolution and moved for its adoption: RESOLUTION #97-05-141 RESOLUTION DECLARING COSTS TO BE ASSESSED AND CALLING FOR A PUBLIC HEARING ON IMPROVEMENT PROJECT #97-19 (UTILITY AND STREET IMPROVEMENTS TO AZURITE STREET) WHEREAS, the cost of Improvement Project #97-19 is proposed to be financed with a combination of TIF revenue and special assessments; and WHEREAS, in a letter dated May 9, 1997, addressed to Mr. Bernie VeVe by City Administrator Ryan Sehroeder, the amounts of the special assessment have been proposed to the four property owners to be $11,999 with the remaining project cost of $48,002.40 to be funded through TIF revenue; and WHEREAS, the petitioners have agreed to a distribution of assessed costs as follows: PIN OWNER AMOUNT 34-32-25-11-0008 34-32-25-11-0009 34-32-25-11-0010 34-32-25-11-0016 34-32-25-11-0021 Ve-Ve, Inc. Ve-Ve, Inc. Vance Bros., Inc. Douglas & Margery Hanson Morrell's Trucking, Inc. $1,720.50 $1,720.50 $4,000.00 $2,750.00 $1,808.00 AND WHEREAS, all of the above parties have signed a petition waiving their rights to a public hearing on the feasibility and necessity of the project. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) That the portion of the cost of such improvement to be paid by the City through TIF revenues is hereby estimated to be $48,002.40 and the portion of the cost to be assessed against benefitted property owners is declared to be $11,999. 2) That the principal of the assessments shall be in annual installments extending over a period of ten (10) years; the first ofthe installments to be payable with property taxes payable in 1998 and shall bear interest of 8.5%. 3) That the assessments shall be as follows: PIN OWNER AMOUNT 34-32-25-11-0008 Ve-Ve, Inc. $1,720.50