RES 19-59CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2019-59
ADOPTING ASSESSMENT OF
SANITARY SEWER AND WATER CHARGES TO
LOT 1, BLOCK 1, GREAT RIVER CENTRE OF OTSEGO 5TH ADDITION
WHEREAS, Edina Otsego, LLC is the Owner of the property legally identified as 118-334-
001010, Lot 1, Block 1, Great River Centre of Otsego 5th Addition; and
WHEREAS, Edina Otsego, LLC as Owner, has petitioned the City for assessments related to
Sewer and Water Availability Charges; and
WHEREAS, Edina Otsego, LLC as Owner, has petitioned the City for assessments related to
Sewer and Water Connection Charges; and
WHEREAS, the City of Otsego has agreed to special assessments against the property; and
WHEREAS, Edina Otsego, LLC as Owner, has previously waived any and all hearings,
irregularities in procedure and any and all rights of appeal under Minnesota Statute or any other
right of appeal pursuant to Exhibit E of that document entitled Development Agreement Great
River Centre of Otsego 5th Addition — Lot 1, Block 1, dated June 24, 2019 and recorded at the
Wright County Recorder's Office on June 27, 2019 as Document No. Al 398850.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
OTSEGO, MINNESOTA:
1. Such proposed assessment, attached hereto as Exhibit A and made a part hereof, are
hereby accepted and shall constitute the special assesment against the properties named
therein and that the tract of land therein included is hereby found to be benefited by the
improvements in the amount of the assessment levied against it.
2. Such assessment for Sewer and Water Availability Charges and for Sewer and Water
Connection Charges against 118-334-001010, Lot 1, Block 1, Great River Centre of
Otsego 5th Addition in the principal amount of $32,222.96, shall be payable in equal
annual installments extending over a period of seven (7) years, the first of the
installments to be payable on or before the first Monday in January 2020, and shall bear
interest at the rate of 3.30% percent per annum. Said interest will commence on January
1, 2020. To each subsequent installment when due shall be added interest for one year on
all unpaid assessments.
3. The owner of any property so assessed may, at any time prior to certifications of the
assessment to the County Auditor, pay the whole of the assessment on such property,
with interest accrued to the date of payment, to the City of Otsego, except that no interest
shall be charged if the entire assessment is paid within 30 days from the adoption of this
resolution; and the owner may, at any time thereafter, pay to the City of Otsego the entire
amount of the assessment remaining unpaid, with interest accrued to December 31 of the
year in which such payment is made. Such payment must be made before November 15
or interest will be charged through December 31 of the next succeeding year.
4. The Finance Director shall forthwith transmit a certified copy of this assessment to the
Wright County Auditor to be extended on the property tax lists of the County. Such
assessments shall be paid over in the same manner as other City property taxes.
ADOPTED by the Otsego City Council this 28th day of October, 2019.
MOTION made by Council Member
Warehime
Darkenwald
ATTEST:
CITY OF OTSEGO
Jessica •
. TT•
Tami f, City Clerk
and SECONDED by Council Member
IN FAVOR: Stockamp, Darkenwald, Warehime, Tanner
OPPOSED: None
EXHIBIT A
Interst
133.12 -
Payment
-
Principal
Year Assessed Accrual
Principal
Interest
Total
Balance
2021 -
- 3,286.61
650.75
3,937.36
2019 9,216.68 53.33
-
-
-
9,216.68
2020 - -
11316.67
357.48
1,674.15
7,900.01
2021 - -
1,316.67
260.70
1,577.37
6,583.34
2022 - -
1,316.67
217.25
1,533.92
5,266.67
2023 - -
1,316.67
173.80
1,490.47
3,950.00
2024 - -
1,316.67
130.35
1,447.02
2,633.33
2025 - -
1,316.67
86.90
1,403.57
1,316.66
2026 - -
1,316.66
43.45
1,360.11
-
Totals
9,216.68
1,269.93
10,486.61
City of Otsego
Special Assessments - Estimated Amortization Schedule
Assessment - Sewer Availability & Connection Charges
Great River Centre - Fifth Addition
Lot 1 Block 1
Interst Payment Principal
Year Assessed Accrual Principal Interest Total Balance
2019 23,006.28
133.12 -
-
-
23,006.28
2020 -
- 3,286.61
892.33
4,178.94
19,719.67
2021 -
- 3,286.61
650.75
3,937.36
16,433.06
2022 -
- 3,286.61
542.29
3,828.90
13,146.45
2023 -
- 3,286.61
433.83
3,720.44
9,859.84
2024 -
- 3,286.61
325.37
3,611.98
6,573.23
2025 -
- 3,286.61
216.92
3,503.53
3,286.62
2026 -
- 3,286.62
108.46
3,395.08
(0.00)
Totals
23,006.28
3,169.95
26,176.23