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City of Elk River City Council Resolution 2 1 - 50 A Resolution of the City Council of the City of Elk River Establishing the Assessment Amount for the Lake Orono Restoration and Enhancement (LORE) Project, Ordering the Preparation of a Proposed Assessment Roll, and Setting the Hearing Date for the Proposed Assessments WHEREAS, a contract has been let for the Lake Orono Restoration and Enhancement (LORE) Project with improvements to.benefited lakeshore property owners and the overall project expenditure for such improvement is $2,693,184.40; and WHEREAS, the city received $1.5 million in state grant funding for the project and an additional $1 million of funding was allocated to the project via Active Elk River; and WHEREAS, the remaining balance of $175,120.00 will be paid for by benefiting lakeshore property owners including the City of Elk River based on Residential Equivalent Unit (REU) as defined by the LORE Feasibility Summary Memo dated May 19, 2020, not to exceed $880.00 per REU. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELK RIVER, MINNESOTA AS FOLLOWS: 1. The amount to be assessed to the benefitted lakeshore property owners for the Lake Orono Restoration and Enhancement project shall be $175,120.00. 2. The City Clerk shall prepare an assessment roll setting forth the proper amount to be specially assessed to each assessable lot. 3. A hearing shall be held at 6:30 p.m. on September 7, 2021, in the Elk River city hall council chambers located at 13065 Orono Parkway, Elk River, MN 55330 to pass upon such proposed assessment. All persons owning property affected by such improvement will be given an opportunity to be heard with reference to such assessment. 4. Notice of the September 7, 2021, hearing shall be published and mailed to the owners of each lot designated in the assessment roll no less than two weeks prior to the hearing date. 5. At the hearing, property owners may object to the assessment. Property owners who file a written objection to the assessment prior to or at the public hearing, may appeal the assessment to district court by serving a notice of appeal on the city within 30 days after the adoption of the assessment.