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HomeMy WebLinkAbout2413-12 - ADMIN Ordinance - City Council - 2012/05/07ORDINANCE NO. 2413-12 ORDINANCE ESTABLISHING THE WESTWOOD VILLA ASSOCIATION INC. 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, Sechons 428A.11 to 428A.21, as amended (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 Westwood Villa Association Inc. Housing Improvement Area as further defined herein, in order to facilitate certain improvements to property known as the "Westwood Villa Condominium" all m accordance with the Housing Improvement Area policy. 1.04. The City has consulted with the Westwood Villa Association (the "Condominium Association") and with residents in the proposed Westwood Villa Association Inc. Housing Improvement Area regarding the establishment of the Westwood Villa Association Inc. 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 50 percent of the housing units within the proposed Westwood Villa Association Inc. 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 April 16, 2012, 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 Westwood Villa Association Inc. Housing Improvement Area, were given an opportunity to be heard. 2.03. The Council finds that, without establishment of the Westwood Villa Association Inc. 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 Condominium Association. 2.04. The Council further finds that designation of the Westwood Villa Association Inc. Housing Improvement Area is needed to maintain and preserve the housing units within such area. 2.05. The Council further finds that by Resolution No. 12-066 adopted on the date hereof, the City has provided full disclosure of public expenditures, loans, bonds, or other financing arrangements in connection with the Westwood Villa Association Inc. Housing Improvement Area, Ordinance No. 2413-12 -2- and has determined that the Westwood Villa Association will contract for the Housing Improvements. 2.06. The City will be the implementing entity for the Westwood Villa Association Inc. Housing Improvement Area and the improvement fee. 2.07. The Council finds that the Westwood Villa Association Inc. Housing Improvement Area meets each of the approval criteria contained in the Housing Improvement Area Policy (listed as 5.01A- 5.01M), including the criterion that a majority 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. Housing Improvement Area Defined. 3.01. The Westwood Villa Association Inc.- Housing Improvement Area is hereby defined as the area of the City legally described in Exhibit A. 3'.02. The Westwood Villa Association Inc. Housing Improvement Area contains 66 housing units as of the date of -adoption of this ordinance, along with garage units and common areas. Section 4. Housing Improvements Defined: • 4.01. ,For the purposes' of this ordinance and.the Westwood Villa Association -Housing Inc. ImprovementArea, the_terin"Housing4mprovements".,shall_mean the'.following improvements to housing units, garages, _and common' areas_ within =the Westwood Villa Association Inc. • Housing Improvement Area: -, ' Building Exterior,: - - . ' •' -Replace flat'roof, replace mansard roof and,replace decks. • Replace the_chiller system. including• removal, purchase,and replacement of the roof mounted"chiller, the evaporator tube bundle in -the boiler room, the two roof mounted cooling air" units, the hydropic piping insulation'and 'valve replacement in the garage. • Garage repair: mold removal on the garage pipes and replace the pipe risers from the garage to the fan coils, in each unit. Repair garage floor. , 4 • Replace Bathroom Vents on the roof Interior: • Replace elevator hydraulic jack and bring elevator to state code. • Fill in spa, remove piping and electrical wiring 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 administrative, legal and consultant costs in connection with the Westwood Villa Association Inc. Housing Improvement Area; and (c) costs of arranging financing for the Housing Improvements under the Housing Improvement Act; and Ordinance No. 2413-12 -3- (d) interest on the internal loan described m 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 Westwood Villa Association Inc. Housing Improvement Area, at a rate, term or amount sufficient to produce revenues required to finance the construction of the Housing Improvements (hereinafter referred to as the "Housing Improvement Fee"), subject to the terms and conditions set forth in this Section. 5.02. The Housing Improvement Fee shall be imposed for Common Elements based on the square footage (percentage of undivided ownership) of each unit, all as prescribed in the Declaration Establishing Westwood Villa Condominium. 5.03. The Housing Improvement Fee shall be imposed and payable for a period no greater than 20 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 and Bonds. 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 without interest of the Housing Improvement Fee has begun 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 a portion of the cost of the Housing Improvements that have not been prepaid, together with administrative costs. 6.02. In addition to the Loan, at any time after the period for prepayment without interest of the Housing Improvement Fee has ended, the City may issue its bonds secured by Housing Improvement Fees, as authorized pursuant to Section 428A.16 of the Act, in a principal amount necessary to finance the portion of the cost of the Housing Improvements not financed through the Loan. Section 7. Annual Reports. 7.01. On March 1, 2013, and each March 1 thereafter until there are no longer any outstanding obligations issued under the Act in connection with the Westwood Villa Association Inc. Housing Improvement Area, Westwood Villa 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. Ordinance No. 2413-12 -4- 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 Westwood Villa Association Inc. 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 45 percent of the housing units within the Westwood Villa Association Inc. 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. Section 9. Amendment. 9.01. This ordinance may be amended by the Council upon compliance with the public hearing 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. Read, approved and adopted and ordered published at a regular meeting of the City Council of the City of St. Louis Park on May 7, 2012. First Reading__, April 16, 2012 `Second:Reading May 7, 2012 Date of-Pulilication ' May 17, 2012 Date,Ordinance takes effect June 21, 2012 Adopt= • by the City Council May 7, 2012 Attest: City Clerk Mayo Ap ro d as to form and exec, tion: Cit Attorney www.MinnLocaLcom MEDIA 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(s) known as St Louis 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 said newspaper(s) once each week, for one successive week(s), it was first published on Thurs- day, the 17 day of May 2012, and was thereafter printed and published on every Thursday to and in- cluding Thursday, the _ day of , 2012, 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 opgrstuvwxyz BY CFO Subscribed and sworn to or affirmed before me on this 17 day of May , 2012 za-eecl, ..ia Zeci,3,,_ • Notary Public DIANE L. ELIASON NOTARY PUBLIC -MINNESOTA My Comm Exp Jan 31, 2015 City of St. Louis Park (Official Publication) SUMMARY ORDINANCE NO 2413-12 ORDINANCE ESTABLISHING THE WESTWOOD VILLA ASSOCIATION INC HOUSING IMPROVEMENT AREA PURSUANTTO MINNESOTA STATUTES, CHAPTER 428A 11 to 428A 21 This ordinance establishes the West wood Villa Association Inc Housing Im- provement Area which is the area legal- ly described on Exhibit A of the Ordi- nance, and specifies the "Housing Im- provements" that will be constructed in Westwood Villa Association Inc Housing Improvement Area and financed with the Housing Improvement Fee This ordinance provides that the City may impose a tee on housing units in an amount sufficient to produce revenues required to construct the Housing Im provements (the "Housing Improvement Fee") The Housing Improvement Fee is set by a separate City Council resolution, but the ordinance lays out the ground rules on how the Housing Improvement Fee will be determined Those rules are summarized as follows • The Housing Improvement Fee will be imposed for Common Elements based on the square footage (percentage of un- divided ownership) of each unit The Housing Improvement Fee may be pre- paid according to the terms set forth in the resolution • The Housing Improvement Fee will be collected at the same time and in the same manner as property taxes • The total Housing Improvement Fee for each unit may not exceed the amount specified in the notice of public hearing for the resolution imposing the Housing Improvement Fee This ordinance provides that at any time after the City has entered into a contract with the Westwood Villa Association Inc for construction of the Housing Improve- ments, or after work has been ordered the Council may begin disbursement to the Association of the proceeds of (a) an internal loan of available City funds in the principal amount necessary to finance a portion of the cost of the Housing Im- provements that has not been prepaid, together with administrative costs, and (b) bonds of the City secured by Housing Improvement Fees as authorized by the Act, in the principal amount necessary to finance the portion of the cost of the Housing Improvements not financed by the internal loan or by prepayments This ordinance requires that Westwood Villa ssociation Inc submit audited financial statements to the City each year while there are outstanding obligations issued under the Act Published in St Louis Park Sun Sailor May 17, 2012 (May 17 2012) A3-Ord2413-12 RECEIVED MAY 1 8 2012 OFFICE OF THE CITY CLERK