5.7. SR 07-08-2002 - Laserfiche WebLink

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Howard R. Green Company Project No. 806550J Feasibility Study 175th Avenue Improvements City of Elk River It is proposed to assess the street construction at a rate of $5,000 per residential unit. There are a total of 25 residential units along 175th Avenue. The only properties with more ~l~an one unit are the Klein parcel with two and the Mitchell parcel with 1 1. The Cargill parcel has not been proposed to be assessed because of the global agreement between the City and Cargill. The proposed assessable units are shown on Exhibit 4. As noted in Table 1, several of the property owners received a letter from the City stating that a credit in the amount of the offer for permanent right-of-way and necessary easements would be applied towards street assessments. The offers were based on minimum damage assessments performed in 2000. It is proposed that the amount be increased by 3% per year due to inflation. Table 3 below summarizes the proposed assessment, credit based on the original offer plus 3% per year, and the difference for each property. Table 3 Property Owner Assessment Credit Difference Mitchell Trust $55,000 $27,878 $27,122 Hohlen $5,000 $0 $5,000 ChubaNan Patten $5,000 $2,888 $2,112 Brinza $5,000 $2,888 $2,112 Monte $5,000 $1,563 $3,437 Osman $5,000 $0 $5,000 Meisenbach $5,000 $1,616 $3,384 Robinson $5,000 $4,001 $999 Graham $5,000 $0 $5,000 Ganyo $5,000 $0 $5,000 Klein $10,000 $3,074 $6,926 Schneider $5,000 $0 $5,000 Collins $5,000 $0 $5,000 Myhre $5,000 $0 $5,000 Cargill N/A N/A N/A Mn/DOT $0 $0 $O TOTAL $81,092 As noted in Table 1, the Mitchell property is the site for the proposed Park Pointe Development. The credit amount was calculated by using the same method and rate as applied towards all other residential properties along 175th Avenue. The credit is for 8