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1993_0308_packet
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1993_0308_packet
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REQUEST FOR CODNCIL ACTI0N DATE: 3/8/93 <br />ITEM K0; : I , T <br />Department Approval: Manager Reviewed* Agenda Section: <br />Reports and Recommendations <br />item ascription: Amending assessment Droll for Terrace Drive <br />improvement, for former Lincoln Development <br />parcels, city project 92-04 <br />Background: Last fall, the city council adopted an assessment roll for <br />improvements to Terrace Drive from Lincoln Drive westerly to the cul -de- <br />sac, connecting with.the existing Terrace Drive at the ditch. <br />Assessments were levied against all benefiting properties consistent <br />with past city assessment policy. Municipal State Aid funds were also <br />available to supplement the project financings <br />Prior to constructing the improvement, when the public improvement <br />hearing phase was being considered by the council, I received a request <br />from Lincoln Development for consideration for a possible assessment <br />reduction. This was based on the fact that they previously constructed <br />the segment of Terrace Drive from Lincoln westerly to provide access for <br />the Edina Realty building and shopping center. Since this segment of <br />road would have to be removed and reconstructed to facilitate the city <br />project,-they felt they should receive gone credit for past <br />construction. <br />1 agreed in concept with the request and agreed to reduce their <br />assessment upon receipt of a written request at the time the project <br />assessment hearing were held. Unfortunately, at the time- .the project <br />was assessed last fall, owners of the Rosedale Square Forth Shopping <br />Center property and office building were in bankruptcy proceedings. <br />Since no written request came from the property owners at that time, we <br />proceeded with an assessment against all parcels in the -full amount <br />consistent with the city assessment policy* <br />We have now received a letter from the bank that now owns title to the <br />former Rosedale Square North property including the retail center and <br />office building. The letter, a copy of which is attached, requests the <br />reduction of the assessed amounts consistent with past agreements I had <br />with the former owner. The request would be to reduce the assessments <br />against the property by approximately 60% from $126,000 to 5 3, 5 0 0. <br />Policy objectives* The-request from Norwest Bank is consistent with <br />past written agreements between my office and the former shopping center <br />ownerse Because the property was in bankruptcy proceeding, the request <br />was not fo rm ally made in writing from the property owners. The <br />assessment was levied as originally recommended. Had the request been <br />made during the assessment proceedings, it would have been reasonable <br />
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