HomeMy WebLinkAbout14-176 - ADMIN Resolution - City Council - 2014/12/15RESOLUTION NO. 14-176
RESOLUTION AMENDING AND RESTATING RESOLUTION 14-157 AUTHORIZING
• THE SPECIAL ASSESSMENT FOR THE INSTALLTION OF THE TRAFFIC SIGNAL
AT THE SHARED ENTRANCE
TO 36 PARK APARTMENTS AND TARGET
WHEREAS, Resolution 14-157 approved on November 17, 2014 inaccurately stated the
repayment schedule for the special assessment; and
WHEREAS, Resolution 14-157 shall be amended and restated as set forth below and
WHEREAS, the following Property Owner has petitioned the City of St. Louis Park to
authorize a special assessment for the installation of the traffic signal at the shared entrance to 36
Park Apartments and Target; and
PID
Street Address,
St. Louis Park, Mn 55416
06-028-24-33-0019
3601 Park Center Blvd
WHEREAS, this Property Owner has agreed to the assessment pursuant to the Planned
Unit Development Agreement and to waive its right to a public hearing, nght of notice and nght
of appeal pursuant to Minnesota Statute, Chapter 429; and
WHEREAS, the City Council of the City of St. Louis Park has received a report from the
City Engineer, or designee, related to the installation of the traffic signal,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of St. Louis
Park, Minnesota, that:
1. The petition from the Property Owner requesting the traffic signal be constructed by the city
and specially assessed to the property is hereby accepted.
2. The installation of the traffic signal and adjoining roadway work was done in conformance
with the plans and specifications approved by the Engineenng Department and are hereby
accepted.
3. The owner, location, and total eligible cost of this work have been determined to be as
follows:
PID
Street Address,
St. Louis Park, Mn 55416
Cost
06-028-24-33-0019
3601 Park Center Blvd
$ 200,000
4. This Property Owner has agreed to waive their right to a public hearing, notice and appeal
from the special assessment; whether provided by Minnesota Statutes, Chapter 429, or by
other statutes, or by ordinance, City Charter, the constitution, or common law.
5. This Property Owner has agreed to pay the City for the total eligible cost of the above
improvements in the amount of $200,000.00 through a special assessment payable in equal
annual principal installments together with accumulated interest at the rate of 5.88 % over a
ten (10) year period, with interest calculated from the date of the adoption of the assessment.
Resolution No. 14-176
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6. The Pr `perty Owner has executed a Planned Unit Development Agreement with the City and
all other do•uments necessary to implement the traffic signal work and the special
assessment of .11 costs associated therewith.
Reviewed for
City Manage
Attest:
s stration:
Walk
v
Adopted by,j ouncil December 15, 2014
City Clerk
May
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