2013-57 CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES,MINNESOTA
DATE: November 12,2013 RESOLUTION NO: 2013-57
MOTION BY: Laufenburger SECONDED BY: Ernst
RESOLUTION APPROVING SPECIAL ASSESSMENT AGREEMENT
AND ASSESSMENT REAPPORTIONMENT
WHEREAS,Bloomberg Companies Incorporated, a Minnesota corporation("Owner") is
the owner of certain parcels of real property situated in the City of Chanhassen, County of
Carver, State of Minnesota, legally described as Lots 2 and 3, Block 1, Chanhassen Transit
Station("Subject Property"); and
WHEREAS, the Owner has entered into an agreement to sell the Subject Property to The
Chanhassen Theatre, LLC, a Delaware limited liability company("Buyer"); and
WHEREAS,the Owner, Buyer and the City of Chanhassen ("City")have entered into a
Special Assessment Agreement ("Agreement") for reapportionment of previously levied
assessments against the Subject Property; and
WHEREAS, consistent with the terms in the Special Assessment Agreement and the
provisions of Minn. Stat. Chapter 429, the Owner and Buyer have petitioned the City for that
reapportionment, waived any rights to appeal or allege procedural irregularities, and agreed to
fully pay the assessments against the Subject Property as reapportioned in Exhibits A and B.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Chanhassen,Minnesota that:
1. The Special Assessment Agreement is hereby approved and the assessments allocated,
adopted and made payable pursuant to the terms of the Special Assessment Agreement as
shown on the Assessment Roll, attached hereto as Exhibit A and Exhibit B.
2. The owner of the Subject Property may, at any time prior to certification of the
reapportionment to the County Auditor,pay the whole of the assessments on such property,
with interest accrued to the date of payment.
3. The City Clerk shall forthwith transmit a certified duplicate of this assessment and
Assessment Agreement to the County Auditor to be extended on the property tax lists of the
County. Such assessments shall be collected and paid over in the same manner as other
municipal taxes.
Doc.#173395v.1 1
RNK: 11/11/2013
ADOPTED this 12th day of November, 2013,by the City Council of the City of
Chanhassen.
7-Cv-- * 4. -1---
Thomas A. Furlong, Mayor
ATT',r: : W
(Ad s Todd Gerhardt, City Manager
YES NO ABSENT
Furlong
Ernst
Laufenburger
McDonald
Tjornhom
Doc.#173395v 1 2
RNK: 11/1112013
EXHIBIT A
Lot 2, Block 1, Chanhassen Transit Station
PID #: 25.1680020
Description: Downtown Transit Parking Ramp Improvements
Project#:
Assessment Code: 251206
Amount of Interest Years Year Extra Days of
Assessment Rate % Covered Started Interest
$366,735.14 6.0% 6 2014 0
Principal Interest P+I Ending Balance
2014 $52,576.10 $22,004.11 $74,580.21 $314,159.04
2015 $55,730.68 $18,849.53 $74,580.21 $258,428.36
2016 $59,074.52 $15,505.69 $74,580.21 $199,353.84
2017 $62,619.00 $11,961.22 $74,580.22 $136,734.84
2018 $66,376.14 $8,204.08 $74,580.22 $70,358.70
2019 $70,358.70 $4,221.52 $74,580.22 -
Doc.#173395v.1 3
RNK: 11/11/2013
EXHIBIT B
Lot 3,Block 1, Chanhassen Transit Station
PID #: 25.1680030
Description: Downtown Transit Parking Ramp Improvements
Project#:
Assessment Code: 251206
Amount of Interest Years Year Extra Days of
Assessment Rate % Covered Started Interest
$57,056.83 6.0% 6 2014 0
Principal Interest P+I Ending Balance
2014 $8,179.81 $3,423.41 $11,603.22 $48,877.02
2015 $8,670.61 $2,932.61 $11,603.22 $40,206.41
2016 $90,190.85 $2,412.37 $11,603.22 ' $31,015.56
2017 $9,742.30 $1,860.92 $11,603.22 $21,273.26
2018 $10,326.83 $1,276.39 $11,603.22 $10,946.43
2019 $10,946.43 $656.79 $11,603.22 -
Doc.#173395v 1 4
RNK: 11/11/2013