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Res 2017- 94 Deferring Assessment 2455 Visitation DrCITY OF MENDOTA HEIGHTS DAKOTA COUNTY, MINNESOTA RESOLUTION 2017-94 A RESOLUTION DEFFERING THE MAKING OF ASSESSMENT AS TO THE PROPERTY LOCATED AT 2455 VISITATION DRIVE FOR THE MENDOTA HEIGHTS ROAD & KENSINGTON STREET IMPROVEMENT (PROJECT #201409, 201616) WI�EREAS, the City Clerk, with assistance of the Public Works Director has calculated the proper amount to be specially assessed for the Mendota Heights Road & Kensington Street Improvements (Project No. 201409, 201616); and WHEREAS, the assessment roll for said improvements has been iiled with the City Clerk and at all times since its filing has been open to public inspection; and WHEREAS, a hearing on said assessments was duly held at 7:00 p.m. on October 30, 2017, at the City Hall in the City of Mendota Heights, MN; and WHEREAS, Visitation Monastery, is the owner of certain property more particularly described as Parcel No. 270350081010, the legal description of which is following described property situated in Dakota County, Minnesota: South Parcel - ALL W OF RD OF S 1/2 OF SE 1/4 LESS W 1 RD & EX COM 450 FT W& 819 FT N OF CEN SH #88 N 546 FT E 301.8 FT TO CEN #88 S 547 FT W 319 FT TO BEG EX HGWY EX PT IN PARCEL 202 OF STH R/W PLAT NO 19-53, Section 35, Township 28, Range 23; and WHEREAS, Visitation Monastery has requested that the making of an assessment against said property by reason of said improvements be deferred until such time as the assessment term has expired (10 years), the property sold, or otherwise transferred in Title Ownership. 2 3. NOW THEREFORE BE IT RESOLVED, by the Mendota Heights City Council that: That the assessment roll for said improvements (Project No. 201409, 201616) be corrected to defer the making of the principle amount only of an assessment at this time against the property of Visitation Monastery (Parcel No. 270350081010). The interest payment shall be made annually at the rate of four point one zero five five percent (4.1055%) per annum from October 30, 2017. That upon completion of the assessment term of 10 years or upon the future sale of title transfer of said property there shali be levied an assessment in the principal amount of $54,747.00. That the City Clerk is hereby directed to correct the assessment roll for said improvements as set forth above. Adopted by the City Council of the City of Mendota Heights this thirtieth day of October, 2017. CITY COUNCIL CITY OF MENDOTA HEIGHTS ATTES . , Neil Garlock, Mayor Lorri mith, City Clerk