HomeMy WebLinkAbout07-107 - ADMIN Resolution - City Council - 2007/10/01•
CITY OF ST. LOUIS PARK
RESOLUTION NO. 07-107
RESOLUTION APPROVING A HOUSING IMPROVEMENT FEE FOR
THE WOLFE LAKE CONDOMINIUM HOUSING IMPROVEMENT AREA
PURSUANT TO MINNESOTA STATUTES, SECTIONS 428A.11 to 428A.21.
BE IT RESOLVED 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 authonzed 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 withm the area.
1.02. The St. Louis Park City Council ("Council") adopted a Housing Improvement Area
policy on July 16, 2001.
1.03. By Ordinance No. 2336-07 adopted on the date hereof (the "Enabling Ordinance"),
the Council has established the Wolfe Lake Condominium Housing Improvement Area 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. In accordance with Section 428A.12 of the Act, owners of at least 25 percent of the
housmg units within the Wolfe Lake Condominium Housing Improvement Area have filed a
petition with the City Clerk requestmg a public hearing regarding imposition of a housmg
improvement fee for the Wolfe Lake Condominium Housing Improvement Area.
1.05. 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 resolution at which all
persons, mcluding owners of property within the Wolfe Lake Condominium Housing Improvement
Area, were given an opportunity to be heard.
1.06 The Council finds that the Wolfe Lake Condominium Housing Improvement Area
meets each of the approval criteria contained in the Housing Improvement Area Policy (listed as
5.01A- 5.01M), mcluding the critenon that a majority of the condominium association owners
support the project and the Housing Improvement Area financing.
1.07. Prior to the date hereof, Wolfe Lake Condominium Association (the "Condominium
Association") has submitted to the City a financial plan prepared by Bach Consulting Group, an
independent third party, acceptable to the City and the Condominium Association, that provides for
the Condominium Association to finance maintenance and operation of the common elements in the
Wolfe Lake Condominium and a long-range plan to conduct and finance capital improvements
therein, all in accordance with Section 428A.14 of the Act.
1.08. For the purposes of this Resolution, the terms "Wolfe Lake Condominium Housing
Improvement Area" and "Housing Improvements" have the meanings provided in the Enabling
Ordinance.
Resolution No. 07-107 -2-
Section 2. Housing Improvement Fee Imposed.
2.01. The City hereby imposes a fee on each housing unit within the Wolfe Lake
Condominium Housing Improvement Area (the "Housing Improvement Fee"), as specified in
Exhibit A attached hereto, which Housing Improvement Fee is imposed on the basis of each
housing unit's Percent of Undivided Interest in Common Areas and Facilities, as described m
Exhibit A to Declaration of Apartment Ownership (Condominium) Wolfe Lake Condominium,
dated as of April 22, 1980, and as shown under the heading Undivided Ownership in that Exhibit.
2.02. The owner of any housing unit in the Wolfe Lake Condominium Housing
Improvement Area may prepay the Housing Improvement Fee in total and without interest thereon
between the effective date of this resolution and November 23, 2007. The amount of the
prepayment is shown under the headings Total Prepayment Fee in Exhibit A. After November 23,
2007, the Housing Improvement Fee shall be imposed on an annual basis as descnbed m 2.03, and
housing unit owners shall be permitted to prepay the outstanding principal portion, with accrued
interest at the rate of 5.85%, on any date. If a prepayment is made by November 20 of 2008 or any
subsequent year, the amount must include interest on the outstanding pnncipal portion of the fee
through the end of that calendar year If a prepayment is made after November 20 of 2008 or any
subsequent year, the amount must include interest through the end of the following calendar year.
Partial prepayment of the Housing Improvement Fee shall not be permitted. Prepayment must be
made to the City Treasurer.
2.03. If the Total Prepayment Fee is not paid between the effective date of this resolution
and November 23, 2007, the Housing Improvement Fee shall be imposed as an annual fee, in the
amount shown under the heading Annual Fee in Exhibit A. The Housing Improvement Fee shall be
imposed in equal installments, beginning in 2008, for a penod no greater than 15 years after the first
installment is due and payable. The Annual Fee shall be deemed to include interest on the unpaid
portion of the total Housing Improvement Fee. Interest shall begin to accrue on January 1, 2008 at
an annual interest rate of 5.85% percent per annum. The Annual Fee shall be structured such that
estimated collection of the Annual Fee will produce at least five percent in excess of the amount
needed to meet, when due, the principal and interest payments on the Housing Improvement Fee.
2.04. Unless prepaid between the effective date of this resolution and November 23, 2007,
the Housing Improvement Fee shall be payable at the same time and m the same manner as
provided for payment and collection of ad valorem taxes, as provided in Minnesota Statutes,
Sections 428A.15 and 428A.05. As set forth therein, the Housing Improvement Fee is not included
in the calculation of levies or limits on levies imposed under any law or charter.
2.05 A de minimis fee may be imposed by Hennepin County for services in connection to
administration required in order for the fee to be made payable at the same time and in the same
manner as provided for payment and collection of ad valorem taxes.
Section 3. Notice of Right to File Objections.
3 01. Within five days after the adoption of this Resolution, 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 Resolution; notice that owners subject to the Housing
Improvement Fee have a right to veto this Resolution 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 Resolution; and notice that a copy of this Resolution
is on file with the City Clerk for public inspection.
•
Resolution No. 07-107 -3-
Section 4. Effective Date.
4.01. This Resolution shall be effective 45 days after adoption hereof.
Section 5. Filing of Housing Improvement Fee.
5.01. The City Clerk shall file a certified copy of this resolution together with a final update
of Exhibit A hereto to the Hennepin County Director of Taxation to be recorded on the property tax
lists of the county for taxes payable in 2008 and thereafter.
Appro
y the City Council of the City of St. Louis Park this 1st day of October, 2007.
Revi Administration:
111113111110.
.�ga'
City
Attest:
it Clerk
Adopted by the City Council October 1, 2007
Mayo
Resolution No. 07-107 -4-
EXHIBIT A TO RESOLUTION NO. 07-107
Assessment Allocation Fee Table
WOLFE LAKE CONDOMINIUM HOUSING IMPROVEMENT AREA
#
1
Unit
No.
113
Unit Type
A
Percentage
Interest
6 , 0 0048245
Annual
Fee
659 83
2
213
A
0 0051309
701 74
3
131
B
w, 0 0051615
705 92
4
21
A -Terrace
0 0052840
722 68
5
133
B
.` 0 0053300
728 97
6
231
B
0 0054832
749 92
7
121
A
‘, 0 0055138
754 10
8
221
A
, 0 0055138
754.10
9
233
B
0 0056363
770 86
. 10
103
B
$ ,0 0057129
781 33
,, . 11
105
B ° _ , v,,,,,
_ ' . ri0`0057129
`Y x`781 33
12 ..�°s�
-,331
B
",' ,00057129
.•181°33
13
313
A
0 0057435
785 52
,14 : , z
_, 333
B.° ' . ,_.. _
"' 10'0058661'
i.. 802'29
15
29
B -1 -Terrace
0 0059579
814 84
16'' �°�"'
-'-136
B
L'...,1;" at" 0 0060192
„ <823 23
17 " _`
203
B
,1' 0'0060192
"82323
18 _
205
B
r;, 0 0060192
823 23
19
222
B-1
;., 0 0060192
823 23
20 .
224
B
6 0 0060192
823 23
21
226
B
,h t 0 0060192
823.23
- . 22
230
B
, 0.0060192
823 23
23
321
A
0 0061264
837 89
24
101
B-3
< 0 0061724
84418
25
130
B
0 0062489
854 64
26
322
B-1
0 0062489
854 64
27
324
B
0 0062489
64
28
326
B
0 0062489
__854
854 64
29 `
122
B-1
_; 0 0063255
865 12
30 `
124
B
.,7 0 0063255
86512
31
126
B
`,°' 0 0063255
865 12
32
236
B_
VD 0063255
86512
33
135
B-4
0 0063565
869 36
34
201
B-3
0 0064787
886 07
35
336
B
0 0065553
896 55
36
25
B -2 -Terrace •
'" 0 0065859
' 900 73
37
210
C
0 0066012
902 82
38
- 128,
B+"
' '; 0 0066318
907 01
39
202 `
B-3
t" 0 0066318
' 907 01
40
303
B
"`_, _ 0 0066318
' 907.01
41
305
B
f 0 0066318
907 01
42
330
B
,, 0'0066318
< 907 01
43
235
B-4
< 0 0066625
911 21
44.,
137
B+
,. 0 0067084
917 49
45 °
237
B+
s °0 0067084
917 49
46 •
' 301
B-3-:
-; 0 0067084
<917,49
47
129
B+
0 0067850
927 96
48
229
B+
0 0067850
927 96
49
. 125
B-2
0 0068616
93844
50
225
B-2
; 0 0068616
938 44
51
302
B-3
0 0068616
938 44
52
111
D
, 0 0068922
942 62
53
335
B-4
0 0068922
942 62
Dues
Structure
1
2
3<
4
5
6
7
8
10
12
14
15
16
170
1
19
20
21
22
23
25
27
28'
29
Prepayment
Amount
6,194 03
6,582 14
6,620 90
6,776 07
6,834 33
7,028 39
7,06715
7,06715
7,222 32
.7,319 34
7,319 34
;7.31934
7,35810
'Z"',1-4„,"., .7,513'40
7,629 68
,oti' 7,707,33
0'7;707 33
a 7,707.33
7,707 33
7,707 33
_„7,707 33
7,707.33
7,843 11
7,901 38
7,998 28
7,998 28
7,998 28
7,998 28
8,095 31
8,095 31
8,095 31
8,095 31
8,134 57
8,289 36
8,386 39
<4 8,42515
8,444 53
• 8,483.29
, 8,483 29
• 8,483 29
8,483 29
8,483 29
8,522 18
o 8,580'32
8,580.32
• `6"8,580 32
8,677 34
8,677 34
8;774 37
8,774 37
8,774 37
8,813 13
8,813 13
Total P & I
Paid Per Unit
(105%)
9,897.47
10,526 05
10,588 82
10,84013
10,934 50
11,248 79
,11,311 57
i1,311 57
11,562 87
X11,,720 02
a '1'1',72002
02
11,782 80
ItV. 12;034 31
12,222 64
' .12;348 39
-6:12,348 39
12,348 39
12,348 39
,. 12,348:39
12,348.39
12,348 39
12,568 32
12,662 68
12,819 62
12,819 62
12,819 62
12,819 62
12,976 77
12,976 77
12,976 77
12,976.77
13,040 37
13,291 06
13,448 20
13,510 98
13,542 37
13,605.14
13,60514
13,60514
13,60514
13,605 14
13,66812
13,762 29
13,762 29
" 13; 762 29
13,919 43
13,919 43
14,076 58
14,076 58
14,076 58
14,139 35
14,139 35
Resolution No. 07-107
-5-
�;,,Or71,1"+0,1
. . .
WOLFE LAKE CONDOMINIUM HOUSING IMPROVEMENT AREA
#
54
Unit
102
Unit Type
B-3
Percentage
-
Interest
0 006938
*
Annual
Fee
948 91
55
228
B-5
0 007045
9V358
56
110
C
0 0070607
96507
57
211
D
0 007198
8V452
58
328
8'5
. 0 007275
93499
59
337
B+
0 007321
1,001 28
60
329
B+
0 007397
1,011 76
61
19
D -Terrace
0 007413
1,013 85
62
234
C-1
0 007413
1,013 85
03' �
325
8-2' '
00074742
1.O2222
64
334
C-1
0 007642
1.04527
65 '
119
D
0 007658
1,047 36
66 '
219
D
. ' 0.0076580
1.D4736
67
106
E
0 007795
1,066 22
68
108
E
0 007795
1.0O022
~.-.-09- ^^'''�i311-
D
A' 0 007811
1,068 31
70
'2O7
E
0 007918
1.O8297
71
209
E
0 007918
1.08297
72^.''''`138E
�OOO7S7971.OS138
73'
27
E -Terrace
0 0080409
1,099 73
74
17
E'Terroce
` ' 0 0080869
1,106 02
75
` 23
E -Terrace -
' ' 0 0080869
1,106 02
76
' 39
E -Terrace ~
0 008086
1,106 02
77 / -
41
E -Terrace
` .' . 0 008086
1.1V802
78 'xw~
' 206
E ` '
- '4' 0'0080869
1.1V802
, 79
^208
E * ` ~
.4-, 0.0080869
1,106 02
80
204
E
0 008087
1,106 03
' 81
319
D
. 0.0082706
1,131 14
82
216
E
0 008286
1.13325
83
218
E
0 008286
1.133o5
84
220
E
0 008286
1.13325
85
238
E
0 008286
1.13325
86
304
E '
-O0O83318
1.13951
87
107
E
0 0083779
1,145 82
88
109
E
0 008377
1.14582
89
117
E
0 0083779
1,145 82
90
123
E
0 008377
1.14582
91
217
E
0 008377
1.14582
92
223
E
0 008377
1.14582
93
127
E
�UOOQ48QB
1.15830
94
227
E
''00004698
1,158 39
95
104
E
' 0 008485
1.10O48
.
.
.'
.
96
120
E.
OOO85157
0 0
.
.
97
316
E
; 0 008515
1,164 66
' 98
318
E
^ 00085157'1.16466
99
320
E
0 008515
1,164 66
100
307
E
0 008531
1.10O78
101
309
E
0 008531
1.1007O
102 ^'
116E'
'^ .'
0 0085923
1,175 14
103
132
E-2
0 008622
1.17S33
104
118
E. '
0 0086689
1,185 62
105
115
E-3
' 0 008699
1,189 80
106
306
E
'.' 0 008714
1,191 89
' 107
308
E
' � 0.0087148
1.191i89
30 `
31
32
33
35
36
37
38
39
40
41
42
43
44
45
48
47
4O.
49
50
51
52
^ '
53
Associstion
Owned Unit
55
56,
57
59
60
' •
Prepayment
Amount
8,871 40
9,007 18
9,026 56
9,201 11
9,298 14
9,356 41
9,453 43
9,472 81
9,472 81
9,550 33
9,763 77
9,78315
9,783 15
9,957 82
9,957 82
9,97.7 20
10,112 99
10\1123S
10,190 64
10,268 16
10,326 42
10,326 42
10,326 42
10,326 42
.10,32g.42
10,326.42
10,326 55
10,559 11
10,578 62
10,5002
10,57802
10,578 62
_10,636 63
.1O,6S5O2
10,695 02
10,695 02
10,695 02
10,695 02
10,695 02
10,811 43
10,811 43
10,830 81
0 00
10,869 57
10,869 57
10,869 57
10,888 95
10,888 95
10,966 60
11,005 36
11,063 63
11,102 39
11,121.77
11,121 77
Total P&|
Paid Per Unit
(105%)
14,233 72
14,453 64
14,485 03
14,767 73
14,924 87
15,019 24
15,176 39
15,207 78
15,207 78
15,333 33
15,679 01
15,710 39
15,710 39
15,993 30
15,993 30
16,024 68
16,244 60
16,244 60
16,370 36
16,495 91
16,590 28
16,590 28
16,590 28
16,590 28
16,590 28
16,590 28
16,590 49
16,967 14
16,998 74
16,998 74
16,998 74
16,998 74
17,092 70
17,187 27
17,187 27
17,187 27
17,187 27
17,187 27
17,187 27
17,375 80
17,375 80
17,407 19
0 00
17,469 97
17,469 97
17,501 35
17,501 35
17,62711
17,689 89
17,784 26
17,847 03
17,878 42
17,878 42
Resolution No. 07-107
-6-
WOLFE LAKE CONDOMINIUM HOUSING IMPROVEMENT AREA
GRAND TOTAL
0.99 135,602
Dues
Structure
61
62
63
;64
65
67
2 68
69
71
73
75
77
79
79
Prepayment
Amount
11,354 58
11,393.47
11,470 99
11,470 99
11,470.99
11,470 99
11,490 37
11,587.39
"411,723.18
11,781 45
11,897.86
12,014 14
r 12,169:43
12,247.08
,"‘"12;49927
12,867.87
x13;449.78
13,566 32
13,566 32
1,4,14822
14;148 22
14,225 87
. ,14,342.28
14,924 31
1,266,672
Total P & I
Paid Per Unit
(105%)
18,255.49
18,318.47
18,444.02
18,444 02
18,444 02
18,444 02
, 18,475 41
18,632 55
18,852.47
18,946 84
19,135.37
19,323 70
'419,575 22
19,700 97
"20'0943
20,706 41
:` ,=21648:87
21,837 61
21,837 61
2Z780 07
22,780.07
22,905 83
X23;094.36
24,037 03
2,034,031
* Note: Annual fee amount is calculated based upon unit percentage interest plus the prorated percentage
interest amount for the association owned unit
Unit
No.
Unit Type .
`Percentage
: Interest
Annual
Fee
108
338
E
0 0088986
1,217 03
109
232
E-2 '
' 0'0089293
1,221.23
110
139
E-1
0.0089905
1,229 60
111
239
E-1
0.0089905
1,229.60
112
317
E
0 0089905
1,229.60
113
323
E
0 0089905
1,229.60
114 ' ,
.
215
E-3
0 0090058
1,231 69
115
327
E
0 0090824
1,24217
116 '
212
E-3
4 ',.„-t-', 0 0091896
1,256.83
117
315
E-3
0.0092356
1,26312
118
310
F
0.0093275
,1,275.69
119
112
E-3
0.0094193
1,288 25
m1-20 , ,
, ;
332,
E-2• . ,:,
.,
,, 0 0095419
1,305 01
121
339
E-1
0 0096032
1,313 40-
0"x>
' 1•.122:,`4° "
,
312
E=3".cr,',;
;'
l 00098023
1;340'63
123
140
G
0.0100933
1,380 43
124,,41,7'
240-
G ,.,
�7`��`00105527
1,443.26
125
141
G
0 0106447
1,455 84
126
241
G
0 0106447
1,455 84
127ti',
114
H
'x'0.0111041
1,518:67
128 ,,
214
Ht,.
_00111041
1,51867
129
340
G
t 0 0111654
1,527 06
130 - '
°
341
G.
6,
;. ', "x0.0112573
1,539.62
131
314
H
0 0117168
1,602 47
GRAND TOTAL
0.99 135,602
Dues
Structure
61
62
63
;64
65
67
2 68
69
71
73
75
77
79
79
Prepayment
Amount
11,354 58
11,393.47
11,470 99
11,470 99
11,470.99
11,470 99
11,490 37
11,587.39
"411,723.18
11,781 45
11,897.86
12,014 14
r 12,169:43
12,247.08
,"‘"12;49927
12,867.87
x13;449.78
13,566 32
13,566 32
1,4,14822
14;148 22
14,225 87
. ,14,342.28
14,924 31
1,266,672
Total P & I
Paid Per Unit
(105%)
18,255.49
18,318.47
18,444.02
18,444 02
18,444 02
18,444 02
, 18,475 41
18,632 55
18,852.47
18,946 84
19,135.37
19,323 70
'419,575 22
19,700 97
"20'0943
20,706 41
:` ,=21648:87
21,837 61
21,837 61
2Z780 07
22,780.07
22,905 83
X23;094.36
24,037 03
2,034,031
* Note: Annual fee amount is calculated based upon unit percentage interest plus the prorated percentage
interest amount for the association owned unit