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MINUTES OF THE RXGUMR IIEETING <br />OF THE EDINA CITY COUNCIL <br />WaLD JULY 19, 1976,.7:00 P.M. AT CITY IIALL <br />Answering rollcall were members Courtney, Richards , Schmidt; Shaw and Nayor Van <br />Valkenburg. <br />1975-HM-1 ASSESSBENT ORDERED. <br />approved as to form and ordered placed on file. Nr. Luce presented Analysis of <br />Affidavits of'Notice were presented by Clerk,* <br />Assessment showing total construction cost incurred at $3,555,662, less $118,820 <br />for the sale of the Union Oil and the Edina LAquor Store sites. Of this total <br />cost, only 20%, or $687,000, is to be assessed, the balance will be paid from <br />tax increments produced by redevelopment of the 50th & France Commercial Area, <br />from municipal state-aid funds and other sources. The amount to be assessed, <br />$687,000, is proposed to be assessed against 318,970 assessable square feet at <br />$2.155 per assessable square foot. <br />ney offered the following resolution and moved its adoption: <br />RESOLUTION ADOPTING AND CONFIREiING <br />SPECIAL ASSESSMENTS LEVIED ON ACCOUNT OF <br />1975 HOUSING AND REDEVELOPMENT AUTHORITY NO. 1, <br />50TH & FRANCE COMNEliCIAL AREA INPROVENENTS <br />I <br />No objections beiilg heard, Councilman Court- <br />BE IT RESOLVED by the City Council of the City of Edina, Minnesota, as follows: <br />1. The City has given notice of hearing as required by law on the proposed <br />assessment roll for the improvement hereinafter referred to, and at such hearing <br />held July 13, 1976, has considered all oral and written objections presented <br />against the levy of such assbssment. <br />2. The Assessment, as set forth in the assessment roll on file in the cffice of <br />the City Clerk for 1975 HOUSING AN9 REDEVELOPNENT AUTHORITY NO. 1, 50th & FRANCE <br />COMMERCIAL AREA IWROVEMENTS, does not exceed the local benefits conferred by <br />said improvements upon the lot, tract, or parcel of land so assessed, and said <br />assessment is hereby adopted and confirmed as the proper assessment on account of <br />said improvement to be spread against the benefited lots, parcels and tracts of <br />land described therein. <br />3. <br />installment to be payable, together with interest at the rate of 5% per annum <br />on the entire assessment from the date hereof to December 31, 1977, with the <br />geaeral taxes for the year 1976. <br />4. The Cfty Clerk shall forthwith prepare and transmit to tha Comty AGditor <br />a copy of this resolution and a certified duplicate of said assessments, with <br />each then unpaid installmeat and interest set forth separately, to be extended <br />on the tax lists of the County in accordance with this resolution. <br />5. The Clerk shall also mil notice of any special assessments that may be <br />payable by a county, by a political subdivision, or by the owner of any right-of- <br />w2y, as required by Knnesota Statutes, Section 429.061, Subdivision 4, and if <br />any such assessment is not paid in a single installment, the City Treasurer <br />shall arrange for collection thereof in installments, as set forth in said section. <br />Motion for adoption of the resolution vas seconded by Councilman Shaw. <br />The zssessment shall be payable in 15 equal annual installments, the first <br />Rollcall: <br />Ayes: Courtney, =chards, Schmidt, Shaw, Van Valkenburg <br />Nays: None <br />Resolution adopted . <br />L. <br />SALE OF PMXING RAW P-1 TO THE HOUSING & XEDEVELOPMENT AUTHORITY OF EDINA, <br />NIHNESOTA, FOR TEE UZPAID BALANCE OF SPECIAL ASSESSHENT AGAINST PARKING RAMP NO. <br />P-l AND CAXCELLATIOW OF SUCH ASSESSNENT. Mr. Luce advised the Council that, pur- <br />suant to the Cooperative Agreement between the City of Edina and the Homing and <br />Redevelopment Authority of Edina, Minnesota ("H.R.A."), entered into as of April <br />8, 1975, the H.R.A. has paid to Edina the sum of $429,864.58, being the total <br />amount of the unpaid balance of special assessments levied for said Parking Ramp <br />No. P-1, in exchange for a quit claim deed to said Parking Ramp No. P-1, and that <br />said funds should now be deposited in the City's Improvement Bond Redemption Fund, <br />and the assessment for said Parking Ramp P-1 should now be canceled. No discus- <br />sion being heard, Councilman Courtney offered the following resolution and moved <br />its adoption : <br />- <br />RESOLUTION RATIFYING AND CONFINlING <br />DIRECTING EEPOSIT OF SALE PROCEEDS INTO <br />THE CITY'S IMPROVEMENT BOND R3DEbPTION FLWD <br />SALE OF PARKING RANI? P-1 AND <br />BE IT RESOLVED by the City Council of the City of Edina, Minnesota, as follows: <br />1. The conveyance by quit claim deed from the City of Edina to the I.I.R.A. of <br />Parking Ramp P-1, for the sum of $429,864.56, pursuant to the Cooperative Agree- <br />ment between the parties entered into as of .April 8, 1975, is hereby ratified <br />and confirmed.