HomeMy WebLinkAbout22-047 Adopt Assessment Roll for Downtown South Reconstruction Project (CP 2020-11)
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 22-047
A RESOLUTION ADOPTING THE ASSESSMENT ROLL FOR THE DOWNTOWN SOUTH
RECONSTRUCTION PROJECT (CP 2020-11)
Motion By: Thompson Second By: Briggs
WHEREAS, Pursuant to proper notice duly given as required by law, the City Council has
met, heard and passed upon all objections to the proposed assessments for
the Downtown South Reconstruction Project.
NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE,
MINNESOTA as follows:
1. The recitals set forth above are incorporated herein.
2. The proposed assessment for the Downtown South Reconstruction Project, City Project 20-
11, a copy of which is attached hereto and made 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 be benefitted by the proposed improvement in the
amount of the assessment levied against it.
3. The portion of the cost of such improvements to be paid by the City is hereby declared to be
$4,964,439, and the portion of the cost to be assessed against benefited property owners is
declared to be $818,848.
4. Assessments shall be payable on an equal principal installment method extending over a
period of 10 years for street improvements. The first installment shall be the annual
principal plus interest calculated from October 28, 2022 to the end of this year plus twelve
months of the next year and shall bear interest at the rate of 2.94% per annum.
5. 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 Finance Director, except that no interest
will be charged if the entire assessment is paid by October 28, 2022. The owner may, at
any time thereafter, pay to the City Finance Director the entire amount of the assessment
remaining unpaid, with interest accrued to December 31 of the year in which such payment
is made. Such payment must be made before November 14 or interest will be charged
through December 31 of the succeeding year.
6. The Finance Director shall forthwith transit a certified duplicate of this assessment to the
County Auditor to be extended on the property tax lists of Scott County. Such assessments
shall be collected and paid to the City in the same manner as other municipal taxes.
Passed and adopted by the Prior Lake City Council this 21st day of March 2022.
2
VOTE Briggs Thompson Burkart Braid Churchill
Aye ☒ ☒ ☒ ☒ ☒
Nay ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☐ ☐ ☐ ☐
______________________________
Jason Wedel, City Manager