01-9103r
35
RESOLUTION NO. 9103
RESOLUTION ADOPTING ASSESSMENT ON
PENN AVENUE BRIDGE PROJECT
WHEREAS, a petition by Best Buy Co., Inc. requested construction of a public
improvement consisting of the replacement of the existing bridge over Interstate 494 at
Penn Avenue South (Project), and
WHEREAS, in the petition Best Buy Co., Inc. agreed that the entire assessable
cost of the improvement be specially assessed against the Company's real property
abutting Penn Avenue South, and
WHEREAS, the Clerk with the assistance of the City Engineer has prepared a
proposed assessment roll (Roll) for the Project, the Roll has been reviewed by this
Council and is on file with the Clerk.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Richfield, Minnesota as follows:
Such proposed assessment in the total amount of $7,328,628 is hereby accepted and
shall constitute the special assessment against the Best Buy Co. Inc.'s real property
abutting Penn Avenue South, and each tract of land therein included is hereby found to
be benefited by the public improvement in the amount of assessment levied against it.
The assessment is found to be against unimproved land and is to be deferred until
December 31, 2006 pursuant to Minnesota Statutes, Section 424.061, Subdivision 2.
The owner of the property so assessed may, at any time prior to certification of the
assessment to the County Auditor, pay the whole of the assessment on such property to
the City's Finance Division and may, at any time thereafter, pay to the City's Finance
Division the entire amount of the assessment remaining unpaid, with interest accrued to
December 31 of the year in which payment is made. Such payment must be made
before November 15 or interest will be charged through December 31 of the succeeding
year.
The City Clerk shall forthwith transmit a certified duplicate of this assessment roll to the
County Auditor with an appropriate certificate requesting deferral.
~g~~~d by the City Council of the City of Richfield, Minnesota, .this 8th) /. ay : ,I Oc ()tober
~~~
Martin J. Kirsc, ayor
ATTEST:
SPECIAL ASSESSMENT ROLL FOR
PENN AVENUE BRIDGE PROJECT
The special assessment to be levied pursuant to Minnesota Statutes, section
429.061, subdivision 2 for the Penn Avenue Bridge Project duly ordered by the City
Council on August 13, 2001, is as follows:
Property to Be Assessed:
That part of the South 1/2 of the Southwest 1/4 of Section 33, Township 028,
Range 24, Hennepin County, Minnesota lying south of the south right of way line of 76th
Street West, lying west of the west right of way line of Knox Avenue South, lying north
of Interstate Highway 494, and lying east of the east right of way line of Penn Avenue
South.
Owner of Property:
Best Buy Co. Inc., 7075 Flying Cloud Drive, Eden Prairie, MN 55344
Amount of Special Assessment:
$7,328,628
Interest to be Charqed on Special Assessments:
0%
This Special Assessment is against unimproved land and is to be deferred until
December 31, 2006 pursuant to Minnesota Statutes, section 429.061, subdivision 2.