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HomeMy WebLinkAbout2336-07 - ADMIN Ordinance - City Council - 2007/10/01ORDINANCE NO. 2336-07 AN ORDINANCE ESTABLISHING THE WOLFE LAKE CONDOMINIUM HOUSING IMPROVEMENT AREA PURSUANT TO MINNESOTA STATUTES, SECTIONS 428A.11 to 428A.21. BE IT ORDAINED by the City Council of the City of St. Louis Park as follows: Section 1. Recitals. 1.01. The City of St. Louis Park ("City") is authorized under Minnesota Statutes, Sections 428A.11 to 428A.21 (the "Act") to establish by ordinance a housing improvement area within which housing improvements are made or constructed and the costs of the improvements are paid in whole or in part from fees imposed within the area. 1.02. The St. Louis Park City Council ("Council") adopted a Housing Improvement Area policy on July 16, 2001. 1.03. The City has determined a need to establish the Wolfe Lake Condommium Housing Improvement Area as further defined herein, in order to facilitate certain improvements to property known as the "Wolfe Lake Condominium" all in accordance with the Housing Improvement Area policy. 1.04. The City has consulted with the Wolfe Lake Condominium Association (the "Condominium Association") and with residents in the proposed Wolfe Lake Condominium Housing Improvement Area regarding the establishment of the Wolfe Lake Condominium Housing Improvement Area and the housing improvements to be constructed and financed under this ordinance. Section 2. Findings. 2.01. The Council finds that, in accordance with Section 428A.12 of the Act, owners of at least 25 percent of the housing units within the proposed Wolfe Lake Condominium Housing Improvement Area have filed a petition with the City Clerk requesting a public hearing regarding establishment of such housing improvement area. 2.02. The Council has on September 17, 2007, conducted a public hearing, duly noticed in accordance with Section 428A.13 of the Act, regarding adoption of this ordinance, at which all persons, including owners of property within the proposed Wolfe Lake Condominium Housing Improvement Area, were given an opportunity to be heard. 2.03. The Council finds that, without establishment of the Wolfe Lake Condominium Housing Improvement Area, the Housing Improvements (as hereinafter defined) could not be made by the condominium association for, or the housing unit owners in, the Wolfe Lake Condominium Association. 2 04. The Council further finds that designation of the Wolfe Lake Condominium Housing Improvement Area is needed to maintain and preserve the housing units within such area. 2.05 The City will be the implementing entity for the Wolfe Lake Condominium Housing Improvement Area and the improvement fee. Ordinance No. 2336-07 -2- 2.06 The Council finds that the Wolfe Lake Condominium Housing Improvement Area meets each of the approval criteria contained m the Housing Improvement Area Policy (listed as 5.O1A- 5.OIM), including the critenon that a majonty of the condominium association owners support the project and the Housing Improvement Area financing. The Condominium Association presented evidence to the Council adequate to demonstrate that these criteria were met, including presentation to the Council of the petitions described in 2.01 above. Section 3. Housmg Improvement Area Defined. 3.01. The Wolfe Lake Condominium Housing Improvement Area is hereby defined as the area of the City legally described in Exhibit A. 3.02. The Wolfe Lake Condominium Housing Improvement Area contains 131 housing units as of the date of adoption of this ordinance, along with garage umts and common areas. Section 4. Housing Improvements Defined. 4.01. For the purposes of this ordinance and the Wolfe Lake Condominium Housing Improvement Area, the term "Housing Improvements" shall mean the following improvements to housing units, garages, and common areas within the Wolfe Lake Condominium Housing Improvement Area: Mechanical: Replace domestic hot water recirculation piping; replace fire alarm system; replace exit lights; install access control system; and install corridor make-up air system. Exterior: Replace asphalt roofs: 4820 South and East, 4860 North; Replace windows, terrace, first & second floors; replace wood siding; add east parking lot entry vestibule. Site Improvements: Sealcoat asphalt. Interior Improvements: Paint & Wall covering; Decorate apartment entries; carpet halls, lobbies, stairwells; ceramic tile; furniture & artwork; interior signage; intenor light fixtures; reface apartment doors; replace common area doors; carpentry; renovate office and guest room; garage floor restoration. 4.02. Housing Improvements shall also be deemed to include: (a) all costs of architectural and engineering services in connection with the activities described in Section 4.01; (b) all administration, legal and consultant costs in connection with the Wolfe Lake Condominium Housing Improvement Area; and (c) costs of arranging financing for the Housing Improvements under the Housing Improvement Act; and (d) interest on the internal loan as described in Sections 5.04 and 6.01. Section 5. Housing Improvement Fee. 5.01. The City may, by resolution adopted in accordance with the petition, hearing and notice procedures required under Section 428A.14 of the Act, impose a fee on the housing units within the Wolfe Lake Condominium Housing Improvement Area, at a rate, term or amount sufficient to produce revenues required to provide the Housing Improvements (hereinafter referred to as the "Housing Improvement Fee"), subject to the terms and conditions set forth in this Section. • Ordinance No. 2336-07 -3- 5.02. The Housing Improvement Fee shall be imposed on the basis of each owned housing unit's Percent of Undivided Interest in Common Areas and Facilities, as described in Exhibit A to Declaration of Apartment Ownership (Condominium) Wolfe Lake Condominium, dated as of April 22, 1980. 5.03. The Housing Improvement Fee shall be imposed and payable for a penod no greater than 15 years after the first installment is due and payable. 5.04. Housing unit owners shall be permitted to prepay the Housing Improvement Fee in accordance with the terms specified in the resolution imposing the fee. 5.05. The Housing Improvement Fee shall not exceed the amount specified in the notice of public hearing regarding the approval of such fee; provided, however, that the Housing Improvement Fee may be reduced after approval of the resolution setting the Housing Improvement Fee, in the manner specified in such resolution. Section 6. Housing Improvement Area Loan. 6.01. At any time after a contract with the Condominium Association for construction of all or part of the Housing Improvements has been entered into or the work has been ordered, and the period for prepayment of the Housing Improvement Fee has expired as described in Section 5.04 hereof, the Council may begin disbursement to the Condominium Association of the proceeds of an internal loan (the "loan") of available City funds in the principal amounts necessary to finance the cost of the Housing Improvements that have not been prepaid, together with administrative costs. 6.02. The City may refinance the loan or any unpaid portion of the loan at any time by issuing bonds secured by Housing Improvement Fees, as outlined by Section 428A.16 of the Act. Section 7. Annual Reports. 7.01. On October 1, 2008, and each October 1, thereafter until there are no longer any outstanding obligations issued under the Act in connection with the Wolfe Lake Condominium Housing Improvement Area, Wolfe Lake Condominium Association (and any successor in interest) shall submit to the City Clerk a copy of the condominium association's audited financial statements. 7.02. The Condominium Association (and any successor in interest) shall also submit to the City any other reports or information at the times and as required by any contract entered into between that entity and the City. Section 8. Notice of Right to File Objections. 8.01. Within five days after the adoption of this ordinance, the City Clerk is authorized and directed to mail to the owner of each housing unit in the Wolfe Lake Condominium Housing Improvement Area: a summary of this ordinance; notice that owners subject to the proposed Housing Improvement Fee have a right to veto this ordinance if owners of at least 35 percent of the housing units within the Wolfe Lake Condominium Housing Improvement Area file a written objection with the City Clerk before the effective date of this ordinance; and notice that a copy of this ordinance is on file with the City Clerk for public inspection. Ordinance No. 2336-07 Section 9. Amendment. -4- 9.01. This ordinance may be amended by the Council upon compliance with the public heanng and notice requirements set forth in Section 428A.13 of the Act. Section 10. Effective Date. 10.1. This ordinance shall be effective 45 days after adoption hereof. ead, approved and adopted and ordered published at a regular meeting of the City Council the Ci of St. Louis Park on October 1, 2007. Revie ed f•, Administration: 1- City maims gMir Attest: City Clerk 0 Adopted by the City Council October 1, 2007 Mayr (e\ Approved as to form and execution: A -t-* City Attorney • • • Ordinance No. 2336-07 -5- EXHIBIT A TO ORDINANCE NO. 2336-07 Legal description Common Interest Community No 203. That part of the Northeast 1/4 of the Northwest 1/4 of Section 7, Township 28, North Range 24 West of the 4th Principal Meridian, described as beginning at the Northwest corner of said Northeast 1/4 of the Northwest 1/4; thence East (assumed bearing for the purposes of this description) along the North line of said Northeast 1/4 of the Northwest 1/4 a distance of 519.12 feet; thence South 00 degrees, 12 minutes, 15 seconds East a distance of 194.07 feet; thence South 66 degrees, 11 minutes, 00 seconds West on a line parallel with and 370 feet Northwesterly of the center line of Excelsior Avenue a distance of 386.95 feet; thence North 23 degrees, 49 minutes, 00 seconds West on a line perpendicular to the center line of Excelsior Avenue a distance of 12.00 feet; thence South 66 degrees, 11 minutes, 00 seconds West on a line parallel with and 382 feet Northwesterly of the center line of Excelsior Avenue a distance of 173.33 feet more or less to the West line of said Northeast 1/4 of the Northwest 1/4; thence North 00 degrees, 20 minutes, 15 seconds West along said West line a distance of 409.34 feet to the point of beginning, according to the United States Government Survey thereof, and situated in Hennepin County, Minnesota. cl p .,. 0 newspapers AFFIDAVIT OF PUBLICATION STATE OF MINNESOTA ) ) ss COUNTY OF HENNEPIN ) Richard Hendrickson, being duly sworn on an oath, states or affirms that he is the Chief Financial Officer of the newspaper known as St Louts Park Sun -Sailor and has full knowledge of the facts stated below (A) The newspaper has complied with all of the requirements constituting qualifica- tion as a qualified newspaper as provid- ed by Minn Stat §331A 02, §331A 07, and other applicable laws as amended (B) The printed public notice that is attached was published in the newspaper once each week, for one successive week(s), it was first published on Thurs- day, the 11 day of October 2007, and was thereafter printed and published on every Thursday to and in- cluding Thursday, the day of , 2007, and printed below is a copy of the lower case alpha- bet from A to Z, both inclusive, which is hereby acknowledged as being the size and kind of type used in the composition and publication of the notice • abcdefghijki mnopgrstuvwxyz Subscribed and sworn to or affirmed before me on this 11 day of October , 2007 City of St. Louis Park (Official Publication) SUMMARY ORDINANCE NO 2336-07 AN ORDINANCE ESTABLISHING THE WOLFE LAKE CONDOMINIUM HOUSING IMPROVEMENT AREA PURSUANTTO MINNESOTA STATUTES, CHAPTER 428A 11 to 428A 21 This ordinance establishes the Wolfe Lake Condominium Housing Improvement Area, which is the area legally de- scribed on Exhibit A of the Ordinance, and specifies the "Housing Improvements" that will be constructed in Wolfe Lake Condominium Housing Improvement Area and fi- nanced with the Housing Improvement Fee This ordinance provides that the City may impose a fee on housing units in an amount sufficient to produce revenues required to provide the Housing Improvements The fee is set by a separate City Council resolution, but the ordi- nance lays out the ground rules on how the fee will be de- termined Those rules are summarized as follows • The fee will be imposed based on each unit's percent of undivided ownership interest • The fee may be prepaid according to the terms set forth in the resolution • If the fee is not prepaid by November 23, 2007, it will be payable over 15 years • The fee will be collected at the same time and in the same manner as property taxes • The total fee for each unit may not exceed the amount specified in the notice of public hearing for the reso- lution imposing the fee This ordinance provides that at any time after the City has entered into a contract with the Wolfe Lake Condominium Association for construction of the Housing Improve- ments, or after work has been ordered, the Council may begin disbursement to the Condominium Association of the proceeds of an internal loan of available City funds in the principal amounts necessary to finance the cost of the Housing Improvements that have not been prepaid, to- gether with administrative costs This ordinance requires that Wolfe Lake Condominium Association submit audited financial statements to the City each year while there are outstanding obligations issued under the Act This ordinance shall take effect 45 days after the October 1, 2007 date of adoption, unless owners of at least 35 per- cent of the housing units in the Wolfe Lake Condominium Housing Improvement Area file an objection with the City Clerk prior to that effective date Adopted by the City Council October 1, 2007 Jeffrey W Jacobs /s/ Mayor A copy of the full text of this ordinance is available for in- spection with the City Clerk Published in St Louis Park Sailor October 11, 2007 (Oct 11, 2007) a3 -Ord 2336-07 MARY ANN CARLSON NOTARY PUBUC — MINNESOTA MY COMMISSION EXPIRES 1-31-09 RATE INFORMATION (1) Lowest classified rate pard by commercial users $ 2 85 per line for comparable space (2) Maximum rate allowed by law $ 6 20 per line (3) Rate actually charged $ 1 30 per line