26-042 Adopting the Assessment Roll for the Northwood Road Area Phase 1 Project (2026-01)

Summary

The resolution adopts the assessment roll for the Northwood Road Area Phase 1 Project, accepting the proposed assessment and declaring the portion of the cost to be paid by the City and the portion to be assessed against benefited property owners. The assessments shall be payable over a period of 10 years for reconstruction and reclamation street improvements and 5 years for mill & overlay street improvements. The resolution also outlines the payment terms and interest rates for the assessments.

Details

Subject

Northwood Road Area Phase 1 Project (2026-01) assessment roll

Summary

The resolution adopts the assessment roll for the Northwood Road Area Phase 1 Project, accepting the proposed assessment and declaring the portion of the cost to be paid by the City and the portion to be assessed against benefited property owners. The assessments shall be payable over a period of 10 years for reconstruction and reclamation street improvements and 5 years for mill & overlay street improvements. The resolution also outlines the payment terms and interest rates for the assessments.

Vote Detail

4-0 with 1 absent

Vote Result

passed

Adopting Body

Prior Lake City Council

Adoption Date

2026-03-10

Resolution Number

26-042