Title
Ratifying the assessment for Annapolis Street from Robert Street to Kansas Avenue (Phase II) paving and lighting project constructed as part of the 2024 St. Paul Street Paving Program (SPS). (File No. 19250, Assessment No. 245202)
Body
WHEREAS, the Saint Paul City Council in Council File RES 24-1159 accepted the Report of Completion for the assessment of benefits, cost and expenses for reconstructing Annapolis and adding a bike lane on each side of the road. Utilities were upgraded along the corridor including any residential hookups for water and sewer. This is a joint endeavor with the City of West Saint Paul and is split in phases; and
WHEREAS, the City Council held a public hearing on October 9, 2024 to consider ratification of the assessment roll; and
WHEREAS, the City Council considered and found satisfactory the assessment of benefits, costs and expenses for the construction work; and
WHEREAS, the assessment amount for each property will be payable in annual installments for a term of 20 years, with the first installment payable with property taxes in 2025; and
WHEREAS, the first annual installment will include 1/20th of the assessment principal, plus interest at 4.25 percent per year on the ratified assessment amount from the date of this resolution until December 31, 2025, plus an administrative fee of $10.00 per parcel; and
WHEREAS, for every annual installment afterwards, interest will be calculated on the remaining assessment balance and the administrative fee will be applied; now, therefore, be it
RESOLVED, that the said assessment is hereby in all respects ratified.