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HomeMy Public PortalAbout2022-96 - Resolution - Adopting Arrowhead Assessment (OSI) Resolution No. 2022-96 November 1, 2022 Member Albers introduced the following resolution and moved its adoption: CITY OF MEDINA RESOLUTION NO. 2022-96 RESOLUTION ADOPTING ASSESSMENT ROLL FOR ARROWHEAD ROAD IMPROVEMENTS WHEREAS, Arrowhead Holdings, LLC (the “Owner”) is fee owner of Hennepin County PID 0311823440009, which is legally described as Lot 1, Block 1, Cavanaughs Meadowwoods Park Third Addition, Hennepin County, Minnesota (the “Property”); and WHEREAS, the city of Medina (the “City”) has constructed substantial improvements to portions of Arrowhead Drive adjacent to the Property and south through the intersection of Arrowhead Drive and T.H. 55 (the “Arrowhead Project”), which serves and benefits the Property; and WHEREAS, the Owner previously executed a petition and waiver agreement, dated July 1, 2020 and recorded in the office of the Hennepin County Recorder as Document No. A10812789 (the “Petition and Waiver Agreement”), which waives hearings and notices of hearings on the construction of the Arrowhead Project and the levying of a special assessment against the Property for the Arrowhead Project; and WHEREAS, the Arrowhead Project is now complete and total costs have been calculated at $868,353.14, and so the City now intends to specially assess the Property for 40.57125 percent of that total in accordance with the terms and conditions of the Petition and Waiver Agreement. NOW, THEREFORE, BE IT RESOLVED by the city council of the city of Medina, Minnesota, as follows: 1. The Property shall be assessed $352,301.72 for the Arrowhead Project. Such assessment shall be payable in equal annual installments extending over a period of ten years, the first installment to be payable on or before the first Monday in January 2023 and shall bear interest at the rate of 5.0% percent per annum from the date of the adoption of this assessment resolution. To the first installment shall be added interest on the entire assessment from the date of this resolution until December 31, 2023. To each subsequent installment when due shall be added interest for one year on all unpaid installments. 2. The Owner may, at any time prior to certification of the assessment to the county auditor, pay the whole of the assessment with interest accrued to the date of payment, directly to the city, except that no interest shall be charged if the entire assessment is paid within 30 days following adoption of this resolution; and the Owner may, at any time thereafter, pay to the city the entire amount of the assessment remaining unpaid, with interest accrued to December 31 of the year in which such payment is made. Except for in 2022, such payment Resolution No. 2022-96 November 1, 2022 must be made before November 15 or interest will be charged through December 31 of the next succeeding year. 3. City staff shall forthwith transmit a certified duplicate of this assessment resolution to the county auditor so that the assessment adopted and memorialized herein can be extended on the proper tax list of the county, and such assessment shall thereafter be collected and paid over in the same manner as other municipal taxes. Dated: November 1, 2022 Kathleen Martin, Mayor ATTEST: Caitlyn Walker, City Clerk The motion for the adoption of the foregoing resolution was duly seconded by member Martin and upon vote being taken thereon, the following voted in favor thereof: Albers, Cavanaugh, DesLauriers, Martin and the following voted against same: (Absent: Reid) None Whereupon said resolution was declared duly passed and adopted.