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HomeMy WebLinkAboutResolution 4368 Declaring intention to Create SID 713, South 8th Avenue to `Z w � V COMMISSION RESOLUTION NO. 4368 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN, RELATING TO SPECIAL IMPROVEMENT DISTRICT NO. 713; DECLARING IT TO BE THE INTENTION OF THE CITY COMMISSION TO CREATE THE DISTRICT FOR THE PURPOSE OF UNDERTAKING CERTAIN LOCAL IMPROVEMENTS IN AND ABOUT SOUTH 8TH AVENUE AND FINANCING THE COSTS THEREOF AND INCIDENTAL THERETO THROUGH A LOAN TO THE DISTRICT FROM THE CITY'S SPECIAL IMPROVEMENT REVOLVING FUND. BE IT RESOLVED by the City Commission(the"Commission")of the City ofBozeman, Montana (the "City"), as follows: Section 1. Proposed Improvements Intention To Create District. The City proposes to undertake certain local improvements(the"Improvements")to benefit certain property located in the City. The Improvements consist of planning, designing, constructing and installing certain public infrastructure on and adjacent to South 8th Avenue including construction of sidewalk, curb and gutter, and pedestrian ramps and others incidental to the above as more particularly described in Section 5 of this Resolution. The Improvements are to be constructed in conjunction with the reconstruction of South 8"' Avenue and installation of additional public infrastructure including reconstruction of South 8th Avenue, narrowing of the median, and the installation of bike lanes, stormwater facilities, and pavement markings, among others. It is the intention of the Commission to create and establish in the City under Montana Code Annotated, Title 7, Chapter 12, Parts 41 and 42, as amended, a special improvement district (the "District") for the purpose of financing the Improvements and paying for costs incidental thereto,including costs associated with the borrowing of funds from the City's special improvement district revolving fund for the creation and administration of the District, (collectively, the "Incidental Costs"). The total approximate cost of the Improvements is$255,488.00.The total approximate cost of all other public infrastructure to be constructed on South 8th Avenue is$1,795,250.94 for a total approximate cost of all infrastructure of$2,050,738.94. Resolution of Intent to Create SID 713 South 8'h Street Pagel of 6 To fund the approximate costs of the Improvements, the Commission intends to provide the District a loan of approximately$255,488.00 from the City's special improvement district revolving loan fund the purpose of which is to pay construction warrants related to the Improvements and Incidental Expenses. In doing so, the Commission intends to assess the District in the manner described in Section 7, below,to reimburse the special improvement district revolving loan fund in an amount equal to the principal of the loan of$255,488.00 to the District plus interest at approximately 2% annually. Over the 20-year term of the loan from the revolving fund to the District, interest earnings of up to $55,000 are estimated to be paid from the District property owners and deposited to the special improvement district revolving fund. In addition to reimbursing the revolving fund on interest the revolving fund would otherwise earn, these interest earnings are intended to satisfy any revolving fund contribution from the District that may be required under 7-12-4222 (1)(b), MCA. Section 2. Number of District. The District, if the same shall be created and established, shall be known and designated as Special Improvement District No. 713 of the City of Bozeman, Montana. Section 3. Boundaries of District. The limits and boundaries of the District are depicted on a map attached as Exhibit A hereto(which is hereby incorporated herein and made a part hereof) and includes all the properties within the exterior boundary of the District as shown on Exhibit A which boundaries are designated and confirmed as the boundaries of the District.A listing and legal description of each of the lots,parcels,and tracts to be included within the District are contained in Exhibit B hereto (which is hereby incorporated herein and made a part hereof). Section 4. Benefited Property. The District and territory included within the limits and boundaries described in Section 3 and as shown on Exhibits A and B are hereby declared to be the special improvement district and the territory which will benefit and be benefited by the Improvements and will be assessed for the costs of the Improvements as described in Section 1. The Improvements, in the opinion of this Commission,are of more than local and ordinary benefit.The property included within said limits and boundaries is hereby declared to be the property benefited by the improvements. Section 5. General Character of the Im rovements. The general character of the Improvements which are to be made and assessed by the District consist of the following on South 8`s Avenue, from a point south of Main Street south to Harrison Street: the removal, replacement and/or the repair of curb, gutter, and sidewalk and installation of pedestrian ramps. These improvements shall include the engineering design, construction, inspection and engineering certification of the Improvements and all necessary permits and appurtenances to complete the Improvements. Resolution of Intent to Create SID 713 South S"'Street Page 2 of 6 Section 6. Engineer and Estimated Costs. The City of Bozeman Engineering Department shall be the engineer for the District. The estimated cost of the Improvements is $255,488.00. Section 7. Assessment Methods. 7.1. Property To Be Assessed. The properties to be assessed include all those properties described in Section 3,above, as shown on Exhibits A and B. All properties in the District will be assessed for their proportionate share of the costs of the Improvements which are to be assessed to the District and from which the properties derive a benefit as determined and set forth herein. Improvements shall be assessed against the properties in the District based on the frontage method,per Section 7-12-4163,MCA, as particularly applied and set forth in Section 7.2 hereof. 7.2. Assessable Area. The costs of the Improvements to be paid by the District shall be assessed using the frontage method of assessment per Section 7-12-4163,MCA.For the purposes of equitably apportioning the special benefit of the Improvements to each lot, tract or parcel in the District, the City Engineer determined the lineal feet of frontage on South 8th Avenue of each lot, tract or parcel based on current recorded plats and certificates of survey for each lot, tract or parcel of land, on file at the Gallatin County Clerk and Recorder's office. The total approximate cost of the Improvements to be paid from the District is $255,488.00 and shall be assessed against each lot, tract or parcel of land in the District bordering or abutting upon South 81h Avenue whereon or wherein the improvement has been made and in proportion to the lineal feet abutting or bordering the same.In determining the amount to be assessed to each property within the District, the total linear footage within the District to be assessed is 5,270.74 linear feet. The approximate costs ofthe Improvements per Iinear foot, exclusive of interest, to be paid by the District shall not exceed approximately$49.00. The approximate assessment for each lot,tract or parcel of land for the Improvements is shown on Exhibit B hereto. 7.3. Assessment Methodology Equitable and Consistent with Benefit. This Commission determines the method of assessment and the assessment of costs of the Improvements against the properties benefited thereby as prescribed in this Section 7 is equitable and in proportion to and not exceeding the special benefits derived from the Improvements by the lots, tracts and parcels to be assessed within the District. Resolution of Intent to Create SID 713 South 8"Street Page 3 of 6 Section 8. Payment of Assessments. The special assessments for the costs of the Improvements to be paid to by the District shall be payable over a term not exceeding twenty(20) years, each in equal semi-annual installments of principal, plus interest, or equal semi-annual payments of principal and interest,as this Commission shall prescribe in the resolution authorizing the loan from the City's special improvement district revolving loan fund. Property owners have the right to prepay assessments as provided by law. Section 9. Method ofFinancin ,Figs and Determinations. The total approximate cost of the Improvements will be financed by a loan to the District from the City's special improvement district revolving loan fund in an amount of$255,488.00,the repayment of which shall become an obligation of the District. Principal of and interest on the loan from the City's special improvement district revolving loan fund will be paid from special assessments levied against the property in the District. In determining to authorize such undertakings and agreements,this Commission has taken into consideration the following factors. (a) The District encompasses a portion of the south central neighborhood of the City between the Main Street commercial corridor and Montana State University, which has completely developed streets in the City with the majority of the homes in the District having an estimated market value in excess of$27,500,000.00 which is significantly greater than the District's portion of the total approximate costs of the Improvements($255,488.00).In the judgment of the City and based on the current market values of the properties for property tax purposes, the special assessments to be levied under Section 7 against each lot, parcel or tract in the District is estimated to be less than the increase in estimated market value of the lot, parcel or tract as a result of construction of the Improvements. (b) Diversi1y of P=erty Ownership. There are 147 separate parcels of land in the District, with 66 separate owners. A number of individuals or other entities own multiple lots. (c)Outstanding Tax and Special Assessments Delinquencies Against Property in District. As of the date of this Resolution there is approximately $2329.00 in delinquent real property taxes in the District and no delinquent special assessments. Resolution of Intent to Create SID 713 South 8'h Street Page 4 of 6 (d) The Improvements described in Section 5 will have significant public benefit by providing for improved storm water collection and retention through curbs and gutters and improvements to sidewalk facilities including pedestrian ramps and as such will benefit the general health,safety,and welfare of the residents of the District. Section 10. Public Hearing,Protests. At any time within fifteen(15)days from and after the date of the first publication of the notice of the passage and approval of this Resolution,which date is March 11, 2012, any owner of real property within the District subject to assessment and taxation for the cost and expense of making the Improvements as described herein may make and file with the City Clerk until 5:00 p.m.,M.S.T.,on the expiration date of said 15-day period which date shall be March 26,2012,written protest against the proposed Improvements,or against the extension or creation of the District, or both. Such protest must be in writing, identify the propeqy in the District owned by the protestor and be signed by all owners of the property. The protest must be delivered to the City Clerk,who shall endorse thereon the date of its receipt. This Commission will at its next regular meeting after the expiration of the fifteen (15) days in which such protests in writing can be made and filed,proceed to hear all such protests so made and filed;which said regular meeting will be held on Monday the 2nd day of April,2012,at 6:00 p.m.,in the Commission Room of Bozeman City Hall, 121 North Rouse Avenue, in Bozeman, Montana. Section 11. Notice of Passage of Resolution of Intention. The Bozeman City Clerk is hereby authorized and directed to publish or cause to be published a copy of a notice of the passage of this resolution in the Bozeman Daily Chronicle, a newspaper of general circulation in Gallatin County on March 11,2012 and March 18, 2012, in the form and manner prescribed by law, and to mail or cause to be mailed a copy of said notice to every person, firm, corporation, or the agent of such person,firm,or corporation having real property within the District listed in the owner's name upon the last completed assessment roll for state, county, and school district taxes, at the owner's last-known address, on or before the same day such notice is first published. Resolution of Intent to Create SID 713 South 814 Street Page 5 of 6 PASSED AND ADOPTED by the City Commission of the City of Bozeman,Montana,at a regular session thereof held on the 5th day of March, 2012. ;E'A N A. 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As described below, the Improvements consist of the removal and replacement of curb, gutter, and sidewalk and the installation of pedestrian ramps (the "Improvements") to South 8th Avenue and paying costs incidental to the creation and administration of the District. The Improvements shall be constructed and installed pursuant to plans and specifications prepared by the City of Bozeman Engineering Department. A complete copy of the Resolution of Intention (the "Resolution") (Resolution No. 4368) is on file with the Bozeman City Cleric which more specifically describes the nature of the Improvements, the boundaries and the area included in the District, the location of the Improvements, and other matters pertaining thereto. For a description of the boundaries of the District please refer to Exhibit A to Resolution 4368. For a listing of all properties included in the District and the estimated assessment for each property please refer to Exhibit B to Resolution 4368. The Resolution and accompanying exhibits may be also viewed on the City's website at http://weblink.bozernan.net/WebLink8/0/fol/47349/Rowl.aspx The general character of the Improvements which are to be made and assessed by the District consist of the following on South 8th Avenue, from a point south of Main Street south to Harrison Street: the removal, replacement and/or the repair of curb, gutter, and sidewalk and the installation of pedestrian ramps. These improvements shall include the engineering design, construction, inspection and engineering certification of the Improvements and all necessary permits and appurtenances to complete the Improvements. The total approximate cost of the hnprovements, including incidental costs is $255,488.00. The costs of the Improvements to be assessed against the property in the District is approximately 5255,488.00. The method of assessment is the frontage method of assessment described in Section 7-12-4163, MCA. The assessable frontage for all lots in the District will be the actual total linear frontage on South 8th Avenue of all properties. The total assessable frontage of the lots, tracts or parcels benefiting from the Improvements is 5,270.74 linear feet. The costs of the Improvements to be assessed to the properties within the District shall not exceed approximately$49.00 per linear foot of assessable area. Subject to the limitations of Montana Code Annotated, Section 7-12-4222, the general fund of the City may be used to provide loans to the special improvement district revolving fund or a general tax levy may be imposed on all taxable property in the City to meet the financial requirements of the City's special improvement revolving fund. At any time within fifteen (15) days from and after the date of the first publication of the notice of the passage and approval of this Resolution, which date was March 11, 2012, any owner of real property within the District subject to assessment and taxation for the cost and expense of making the Improvements as described herein may make and file with the City Clerk until 5:00 p.m., M.T., on the expiration date of said 15-day period which date shall be March 26, 2012,written protest against the proposed Improvements, or against the extension or creation of the District, or both. Such protest must be in writing, identify the property in the District owned by the protestor and be signed by all owners of the property. The protest must be delivered to the City Clerk, who shall endorse thereon the date of its receipt. This Commission will at its next regular meeting after the expiration of the fifteen(15) days in which such protests in writing can be made and filed,proceed to hear all such protests so made and filed; which said regular meeting will be held on Monday the 2nd day of April, 2012, at 6:00 p.m., in the Commission Room of Bozeman City Hall, 121 North Rouse Avenue, in Bozeman, Montana. On Monday the 2nd day of April, 2012, at 6:00 p.m., in the Commission Room of Bozeman City Hall, 121 North Rouse Avenue, in Bozeman, Montana,the Bozeman City Commission will conduct a public hearing and pass upon all written protests against the creation of the District, or the making of Improvements, that may be filed in the period described above. Further information regarding the proposed District or other matters in respect thereof may be obtained from the City Clerk at City Hall, 121 North Rouse Avenue, in Bozeman, Montana, or by telephone at(406) 582-2320. Dated: March 9, 2012. BY ORDER OF THE CITY COMMISSION OF THE CITY F BOZEM , WWKANA S T C U B em ity C1e�k :; t�i" - •�-�-- ; Legal Ad ✓° 3~ Publish: Sunday March 11,2012 . y,��d ti•CSC} �3'���` - Sunday March 18,2012 CERTIFICATE AS TO RESOLUTION AND ADOPTING VOTE I, the undersigned, being the duly qualified and acting recording officer of the City of Bozeman, Montana (the City), hereby certify that the attached resolution is a true copy of Resolution No. 4368, entitled: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN, RELATING TO SPECIAL IMPROVEMENT DISTRICT NO. 713; DECLARING IT TO BE THE INTENTION OF THE CITY COMMISSION TO CREATE THE DISTRICT FOR THE PURPOSE OF UNDERTAKING CERTAIN LOCAL IMPROVEMENTS IN AND ABOUT SOUTH 8Tn AVENUE AND FINANCING THE COSTS THEREOF AND INCIDENTAL THERETO THROUGH A LOAN TO THE DISTRICT FROM THE CITY'S SPECIAL IMPROVEMENT REVOLVING FUND (the Resolution"). The Resolution was duly adopted by the City Commission of the City at a meeting on March 5, 2012, that the meeting was duly held by the City Commission and was attended throughout by a quorum, pursuant to call and notice of such meeting given as required by law; and that the Resolution has not as of the date hereof been amended or repealed. I further certify that, upon vote being taken on the Resolution*at.saidd me ting, the following Commission members voted in favor thereof �' The following Commission members voted against the same or were abse WITNESS my hand officially this day of Marcl. ,' 9 B 0.a Ci M . �;� :� COMMISSION RESOLUTION NO.4368 Resolution of Intent to Create SID No. 713 - Improvements to South 8th Avenue This is to certify that I did personally mail, on the 9ch day of March, 2012, postage prepaid, a copy of the attached Notice of Passage of a Resolution of Intent to Create Special Improvement District No. 713 to the property owners, as identified on Exhibit "B", attached hereto. ) BO r' . , . . 1 B e 1 1