HomeMy WebLinkAbout22-045 - ADMIN Resolution - City Council - 2022/03/21Resolution No. 22-045
Resolution approving and
adopting a public improvement and
special assessment agreement
Whereas, Texa Tonka Shopping Center LLC (“Owner”) is the fee owner of property
located in the City of St. Louis Park, Hennepin County, Minnesota legally described as:
Lots 14 TO 27, Block 2, TEXA TONKA ADDITION
And having street address of 8000 Minnetonka Boulevard, St. Louis Park, Minnesota
55426 (the "Subject Property").
Whereas, Owner has requested assessment of the costs associated with installing a
concrete sidewalk and boulevard improvements along Minnetonka Boulevard and Virginia
Avenue South, together with associated legal expenses, engineering, administration, and staff
time, financing (bond issuance), construction observation, surveying, record drawing
preparation, permits, and publications against the Subject Property;
Whereas, the City has received the attached signed Public Improvement and Special
Assessment Agreement, attached hereto as Exhibit A, (“Assessment Agreement”) that includes
assessment of the costs of the improvements and waiving all applicable assessment procedural
requirements and requesting to be assessment for the public improvement costs in the amount
itemized therein against the Subject Property.
Now therefore be it resolved by the City Council of the City of St. Louis Park, Minnesota,
as follows:
1. The Assessment Agreement is hereby accepted and approved.
2. A special assessment in the principal amount of $53,531.25.00 is hereby imposed
against the Subject Property.
3. Such assessment shall be payable in equal annual installments extending over a period
of 10 years, the first of the installments to be payable with the first installment of the 2023
property taxes, and shall bear interest at the rate of 3% per annum. To the first installment shall
be added interest on the entire assessment from the date of this resolution until December 31,
2023. The entire unpaid balance of the assessment shall be due and payable in full upon the
sale of any portion of the Subject Property.
4. The Owner may, at any time prior to certification of the assessment to the County
Auditor, pay the whole of the assessment on such property, with interest accrued to the date of
payment, to the City, except that no interest shall be charged if the entire assessment is paid
within 60 days from the adoption of this resolution; and the prope rty owner may, at any time
thereafter, pay to the city treasurer the entire amount of the assessment remaining unpaid,
with interest accrued to December 31 of the year in which such payment is made. Such
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Resolution No. 22-045 2
payment must be made before November 15 or interest will be charged through December 31
of the next succeeding year.
5. The City Clerk shall forthwith transmit a certified duplicate of this assessment to the
County Auditor to be extended on the property tax lists of the County. Such assessments shall
be collected and paid over in the same manner as other municipal taxes.
Reviewed for Administration: Adopted by the City Council March 21, 2022
Kim Keller, city manager
Jake Spano, mayor
Attest:
Melissa Kennedy, city clerk
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