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Home My WebLink About7A Rolling Oaks Adopt Assessments PresentationRolling Oaks Circle Improvement Project Assessment Hearing October 2, 2017 Construction Update The construction start was delayed due to the inability to obtain sanitary sewer manholes. The manufacturers were backlogged so the contractor had to wait for these materials to start. •Tree removal began September 26. •Mobilization of equipment and materials expected on October 2nd. •Utility construction to begin on October 3rd. Due to later start, it is unlikely that curb and gutter and paving will be completed this fall. Project Schedule ACTIVITY DATE Accept Feasibility Report / Call for Public Hearing Completed Informational Meeting Completed Conduct Public Hearing/Accept Project / Order Plans & Specifications Completed Informational Meeting Completed Approve Plans and Specifications / Order Advertisement for Bids Completed Open Bids Completed Accept Bids/Award Contract Completed Authorize Amount to be Assessed/Schedule Assessment Hearing Completed Construction October 2, 2017 Conduct Assessment Hearing October 2, 2017 Adopt Assessment Roll October 2, 2017 Assessment Map Assessment Calculation Item Original 2014 Connection Charge Option 2017 Connection Charge Option Future Standard Project 2017 Pricing Street and Storm Sewer Assessment $25,759 $27,000 $26,900 $24,661 Sanitary Sewer Assessment $6,383 $0 $0 $5,272 Watermain Assessment $5,652 $0 $0 $4,151 Street and Storm Sewer Assessable Units 22 10 10 20 Sanitary and Water Assessable Units 21 0 0 19 Total Utilities Assessment $12,035 $0 $0 Total Streets & Utilities Assessment $37,794 $27,000 $26,900 $34,084 Sample Assessment Payments ROLLING OAKS IMPROVEMENT PROJECT Unit Amount $26,900 Term (Years)10 Years APR 3.80% First Year Interest 91 Days Year Principal Interest Annual Payment Remaining Principal Beginning Balance $26,900 1 $2,690.00 $1,280.59 $3,970.59 $24,210.00 2 $2,690.00 $919.98 $3,609.98 $21,520.00 3 $2,690.00 $817.76 $3,507.76 $18,830.00 4 $2,690.00 $715.54 $3,405.54 $16,140.00 5 $2,690.00 $613.32 $3,303.32 $13,450.00 6 $2,690.00 $511.10 $3,201.10 $10,760.00 7 $2,690.00 $408.88 $3,098.88 $8,070.00 8 $2,690.00 $306.66 $2,996.66 $5,380.00 9 $2,690.00 $204.44 $2,894.44 $2,690.00 10 $2,690.00 $102.22 $2,792.22 $0.00 Totals $26,900.00 $5,880.49 $32,780.49 Sample Assessment Payments ROLLING OAKS CONNECTION CHARGES Unit Amount $6,549.00 Term (Years)5 Years APR 3.80% First Year Interest 91 Days Year Principal Interest Annual Payment Remaining Principal Beginning Balance $6,549.00 1 $1,309.80 $311.77 $1,621.57 $5,239.20 2 $1,309.80 $199.09 $1,508.89 $3,929.40 3 $1,309.80 $149.32 $1,459.12 $2,619.60 4 $1,309.80 $99.54 $1,409.34 $1,309.80 5 $1,309.80 $49.77 $1,359.57 $0.00 Totals $6,549.00 $809.49 $7,358.49 Assessment Roll PID PROPERTY OWNER PROPERTY ADDRESS PROPERTY CITY STATE ZIP NUMBER OF UNITS BASE ASSESSMENT CONNECTION FEES TOTAL ASSESSMENT AMOUNT 1 250520080 BUCHHOLZ EDITH 14070 ROLLING OAKS CIR NE PRIOR LAKE MN 55372 1 $26,900.00 $6,549.00 $33,449.00 2 250520100 ERICKSON GORDON R & LAQUITA M 14071 ROLLING OAKS CIR NE PRIOR LAKE MN 55372 1 $26,900.00 $26,900.00 3 250520060 JARZYNA TOM & CAROL 14150 ROLLING OAKS CIR NE PRIOR LAKE MN 55372 1 $26,900.00 $26,900.00 4 250520040 LUNSER ALLEN C & NANCY M 14170 ROLLING OAKS CIR NE PRIOR LAKE MN 55372 1 $26,900.00 $6,549.00 $33,449.00 5 250520130 MEADOWLAWN DEVELOPMENT CORP 14175 ROLLING OAKS CIR NE PRIOR LAKE MN 55372 1 $26,900.00 $26,900.00 6 250520050 HALLQUIST CHAD 14160 ROLLING OAKS CIR NE PRIOR LAKE MN 55372 1 $26,900.00 $26,900.00 7 250520090 SAMES PATRICK R & MARGARET E 14030 ROLLING OAKS CIR NE PRIOR LAKE MN 55372 1 $26,900.00 $26,900.00 8 250520070 CICHOSZ MARK & KELLY 14100 ROLLING OAKS CIR NE PRIOR LAKE MN 55372 1 $26,900.00 $6,549.00 $33,449.00 9 250520020 MITCHELL ANDY 14188 ROLLING OAKS CIR NE PRIOR LAKE MN 55372 1 $26,900.00 $6,549.00 $26,900.00 10 250520110 STONE CURTIS & SALLY 14111 ROLLING OAKS CIR NE PRIOR LAKE MN 55372 1 $26,900.00 $26,900.00 10 $295,196.00 Important Dates •November 1, 2017 Full or partial payments needed by this date to avoid interest. •November 30, 2017 Payments made between November 1st and November 30th will include interest for 2017. •November 30th Payments made after this date will include interest for the entire following year. •May 15, 2018 If no prepayments are made, assessments fill be incorporated into property taxes due beginning on this date. Any Questions?