RES 15-69CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF NHNNESOTA
RESOLUTION NO: 2015-69
RESOLUTION FOR THE RECERTIFICATION OF CERTAIN
SPECIAL ASSESSMENTS TO PROPERTIES OWNED BY DUKE REALTY
WHEREAS, the City of Otsego made improvements to the water and sewer infrastructure on Queens
Avenue, with the cost of the respective improvements being certified as special assessments against the
benefitting properties in 2007; and
WHEREAS, Duke Realty is the owner of those respective properties and has entered into development
agreements with the City of Otsego that included the replatting of the original parcels; and
WHEREAS, as part of the replatting process, the original parcel identification number was eliminated from
the County records along with the outstanding special assessments; and
WHEREAS, the County has now assigned new parcel identification numbers; and
WHEREAS, Duke Realty has requested that the outstanding special assessments be allocated to the new
parcels and be recertified against the respective properties, and has waived all hearing and notice
- requirements.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO,
MINNESOTA:
That the outstanding special assessments from the original parcel identification number be allocated and
recertified against the new parcel identification numbers as outlined in Exhibit A.
ADOPTED by the Otsego City Council this 9th day of November, 2015.
MOTION made by Council Member Heidner
Warehime
CITY OF OTSEGO
�i� 111 �.� u set/1 ) � 1►1,�iJ
ATTEST:
Tami Lo , City Clerk
and SECONDED by Council Member
IN FAVOR: Stockamp, Heidner, Warehime, Darkenwald
OPPOSED: None
2
City of Otsego
Special Assessments - Summary Information
Reassessment & Reallocation - Queens Avenue Water & Sewer
Duke Realty - Gateway North - 3rd & 4th Additions
Original Information
PID
118-256-000010/01
118-256-000010/01
118-256-000010/01
118-256-000010/01
118-256-000010/01
Revised Information
PID
118-277-001010
118-288-001010
118-288-001020
118-288-001030
Total
Description Lot Size Allocated % Amount Levy#
52,315.65
28530-0
52,315.65
28530-1
52,315.65
28530-2
52,315.65
28530-3
52,315.65
28530-4
Original Assessment 261,578.25
(1)
2015 Interest Accrued 14,386.80
40.25%
New Assessment 275,965.05
(1)
Description
3rd Addition - Building #6
4th Addition - Building #5
4th Addition - Building #3
4th Addition - Future Building
Notes
(1) - Wright County will assign the new levy number for these assessments.
U:\Taxes\Special Assessments\2015\Duke Realty - Reassessment Allocation
Amount
Lot Size
Allocated
Allocated
Levy #
18.625
24.44%
67,444.12
(1)
30.672
40.25%
111,068.25
(1)
13.636
17.89%
49,378.15
(1)
13.276
17.42%
48,074.53
(1)
76.209
100.00%
275,965.05
Notes
(1) - Wright County will assign the new levy number for these assessments.
U:\Taxes\Special Assessments\2015\Duke Realty - Reassessment Allocation
City of Otsego
Special Assessments - Amortization Schedule
Reassessment & Reallocation - Queens Avenue Water & Sewer
r Duke Realty - Gateway North - 3rd & 4th Additions
118-256-00001001
Original Interest
Year Assessed Accrual
Principal
Payment
Interest
Total
Balance
2007 490,459.00 3,547.45
-
-
-
490,459.00
2008 - -
32,697.25
30,522.70
63,219.95
457,761.75
2009 - -
32,697.25
25,176.90
57,874.15
425,064.50
2010 - -
32,697.25
23,378.55
56,075.80
392,367.25
2011 - -
32,697.25
21,580.20
54,277.45
359,670.00
2012 - -
32,697.25
19,781.85
52,479.10
326,972.75
2013 - -
32,697.25
17,983.50
50,680.75
294,275.50
2014 - -
32,697.25
16,185.15
48,882.40
261,578.25
2015 - -
32,697.25
14,386.80
47,084.05
228,881.00
2016 - -
32,697.25
12,588.45
45,285.70
196,183.75
2017 - -
32,697.25
10,790.10
43,487.35
163,486.50
2018 - -
32,697.25
8,991.75
41,689.00
130,789.25
2019 - -
32,697.25
7,193.40
39,890.65
98,092.00
2020 - -
32,697.25
5,395.05
38,092.30
65,394.75
2021 - -
32,697.25
3,596.70
36,293.95
32,697.50
2022 - -
32,697.50
1,798.35
34,495.85
-
490,459.00 219,349.45 709,808.45
Revised Interest Payment
Year Assessed Accrual Principal Interest Total Balance
2007 .490,459.00 -
-
-
-
490,459.00
2008 - -
32,697.25
26,975.25
59,672.50
457,761.75
2009 - -
32,697.25
25,176.90
57,874.15
425,064.50
2010 - -
32,697.25
23,378.55
56,075.80
392,367.25
2011 - -
32,697.25
21,580.20
54,277.45
359,670.00
2012 - -
32,697.25
19,781.85
52,479.10
326,972.75
2013 - -
32,697.25
17,983.50
50,680.75
294,275.50
2014 - -
32,697.25
16,185.15
48,882.40
261,578.25
2015 - 14,386.80
-
-
-
275,965.05
2016 - -
39,423.60
15,178.10
54,601.70
236,541.45
2017 - -
39,423.60
13,009.80
52,433.40
197,117.85
2018 - -
39,423.60
10,841.50
50,265.10
157,694.25
2019 - -
39,423.60
8,673.20
48,096.80
118,270.65
2020 - -
39,423.60
6,504.90
45,928.50
78,847.05
2021 - -
39,423.60
4,336.60
43,760.20
39,423.45
2022 - -
39,423.45
2,168.30
41,591.75
-
504,845.80 211,773.80 716,619.60
U:\Taxes\Special Assess ments\2015\Duke Realty - Reassessment Summary
City of Otsego
Special Assessments - Amortization Schedule
Reassessment & Reallocation -Queens Avenue Water &Sewer
pDuke Realty - Gateway North - 3rd Addition - Building #6
V 118-277-001010
Payment
Year Assessed Principal Interest Total Balance
2015 67,444.12
-
-
-
67,444.12
2016 -
9,634.87
3,709.43
13,344.30
57,809.25
2017 -
9,634.87
3,179.51
12,814.38
48,174.38
2018 -
9,634.87
2,649.59
12,284.46
38,539.51
2019 -
9,634.87
2,119.67
11,754.54
28,904.64
2020 -
9,634.87
1,589.76
11,224.63
19,269.77
2021 -
9,634.87
1,059.84
10,694.71
9,634.90
2022 -
9,634.90
529.92
10,164.82
0.00
Totals 67,444.12 14,837.72 82,281.84
U:\Taxes\Special Assess ments\2015\Duke Realty - Reassessment 118-277-001010
City of Otsego
Special Assessments - Amortization Schedule
Reassessment & Reallocation - Queens Avenue Water & Sewer
Duke Realty - Gateway North - 4th Addition - Building #5
118-288-001010
Payment
Year Assessed Principal Interest Total Balance
2015 111,068.25
-
-
-
111,068.25
2016 -
15,866.89
6,108.75
21,975.64
95,201.36
2017 -
15,866.89
5,236.07
21,102.96
79,334.47
2018 -
15,866.89
4,363.40
20,230.29
63,467.58
2019 -
15,866.89
3,490.72
19,357.61
47,600.69
2020 -
15,866.89
2,618.04
18,484.93
31,733.80
2021 -
15,866.89
1,745.36
17,612.25
15,866.91
2022 -
15,866.91
872.68
16,739.59
(0.00)
Totals 111,068.25 24,435.02 135,503.27
U:\Taxes\Special Assess ments\2015\Duke Realty - Reassessment 118-288-001010
City of Otsego
Special Assessments - Amortization Schedule
Reassessment & Reallocation - Queens Avenue Water & Sewer
Duke Realty - Gateway North - 4th Addition - Building #3
'...
118-288-001020
Payment
Year Assessed Principal Interest Total Balance
2015 49,378.15
-
-
-
49,378.15
2016 -
7,054.02
2,715.80
9,769.82
42,324.13
2017 -
7,054.02
2,327.83
9,381.85
35,270.11
2018 -
7,054.02
1,939.86
8,993.88
28,216.09
2019 -
7,054.02
1,551.88
8,605.90
21,162.07
2020 -
7,054.02
1,163.91
8,217.93
14,108.05
2021 -
7,054.02
775.94
7,829.96
7,054.03
2022 -
7,054.03
387.97
7,442.00
(0.00)
Totals 49,378.15 10,863.19 60,241.34
U:\Taxes\Special Assessments\2015\Duke Realty - Reassessment 118-288-001020
City of Otsego
Special Assessments - Amortization Schedule
Reassessment & Reallocation - Queens Avenue Water & Sewer
Duke Realty - Gateway North - 4th Addition -Future Building
118-288-001030
Payment
Year Assessed Principal Interest Total Balance
2015 48,074.53
-
-
-
48,074.53
2016 -
6,867.79
2,644.10
9,511.89
41,206.74
2017 -
6,867.79
2,266.37
9,134.16
34,338.95
2018 -
6,867.79
1,888.64
8,756.43
27,471.16
2019 -
6,867.79
1,510.91
8,378.70
20,603.37
2020 -
6,867.79
1,133.19
8,000.98
13,735.58
2021 -
6,867.79
755.46
7,623.25
6,867.79
2022 -
6,867.79
377.73
7,245.52
0.00
Totals 48,074.53 10,576.40 58,650.93
U:\Taxes\Special Assess ments\2015\Duke Realty- Reassessment 118-288-001030