5.1. SR 10-03-2005
Item # 5.1.
13065 Orono park.way
Elk River~ MN 55330
September 28, 2005
File: 226-035C
The Honorable Mayor and City Council
City of Elk River
13065 Orono Parkway
Elk River MN 55330
RE: NORlliSTAR BUSINESS PARK
ASSESSMENT HEARING
Dear Council Members:
The assessment hearing for the Northstar Business Park is scheduled for Monday evening's
City Council meeting. As you will recall, the project cost is being assessed against the lots in
the Northstar Business Park which are owned by the Economic Development Authority.
The total cost proposed to be assessed is $947,200, which is made up of the construction bid
(construction is currently underway and will not be complete until next year), typical City
overhead costs, and other miscellaneous costs associated with developing Northstar
Business Park. The assessments are proposed to be spread over 10 years at 5.50/0 interest.
Published notice has appeared in the Elk River Star News and mailed notices were sent to
the President of the Economic Development Authority and Economic Development staff.
On Monday evening I will be prepared to make a brief presentation and answer any
questions the Council may have. Attached for your consideration at the close of the
assessment hearing is a resolution which adopts the final assessment roll for the N orthstar
Business Park.
If you have any questions before Monday evening's meeting, please call.
Sincerely,
Terry J. aurer, PE
City Engineer
Phone: 763.63;.1000
Fax: 763.635.1090
S:\EngineerImprovProj\2005 Improvement Projects\Northstar Business Park\09 28 05 cc memo.doc
W\vw. ci. elk - ri veT. mn. us
RESOLUTION 05-
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION ADOPTING FINAL ASSESSMENT ROLL IN THE
MATTER OF NOR THSTAR BUSINESS PARK IMPROVEMENT OF 2005
WHEREAS upon due notice properly made as required by law, the Elk River City Council has
met and heard and passed upon all objections to the proposed assessment for the
Northstar Business Park improvement and has determined the amount to be
assessed against each individual property as the Council deems just;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River,
Minnesota:
1. The final assessment roll, a copy of which is attached hereto and incorporated herein by this
reference, is hereby accepted and adopted and shall constitute the special assessment against
the lands therein named. Each such tract of land in the assessment roll is hereby found to
be benefited by the improvement in an amount not less than the amount of the assessment
levied against it.
2. Such assessment shall be payable in equal annual installments, including both principal and
interest, amortized in such amount annually as is required to pay the principal with interest at
5.50/0 over a period of 10 years.
3. The owner of any property so assessed may at any time prior to certification to the County
Auditor of the assessment or the first installment thereof, pay to the City Treasurer the
whole of the assessment on such property, with interest accrued to the date of payment;
except that no interest shall be charged if the entire assessment is paid within 30 days after
the adoption of this Resolution. Prepayment may also be made after the certification of the
assessment or first installment thereof by paying to the City Treasurer/County Auditor the
entire amount of the assessment remaining unpaid with interest. In the case of a payment
made before November 15, interest will be calculated through December 31 of the year in
which payment is made. If payment is made after November 15, interest will be calculated
through December 31 of the next succeeding year.
4. The City Administrator shall transmit to the County Auditor a certified duplicate of the
attached assessment roll to be extended on the property tax lists of the County. Such
assessment shall be collected and paid over in the same manner as other municipal taxes.
Passed and adopted this 3rd day of October, 2005.
A TrEST:
Stephanie A. Klinzing, Mayor
Joan M. Schmidt, City Clerk
s: \EngineerImprovProj\2005 Improvement Projects \N onhstar Business Park\Resolution Adopting Final Assessment Roll.doc