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RESOLUTION <br /> <br /> The matter of establishing a neighborhood improvement district by the property owners in the 1200 and 1300 <br /> Blocks of Waldron for the purpose of making neighborhood improvements was considered. <br /> After review and general discussion of the matter, Council member V~~ offered the following <br />Resolution and moved its adoption. <br /> <br />BE IT RESOLVED: That the Council of the City of University City, Missouri finds as follows: <br /> <br />1. The 1200 and 1300 Blocks of Waldron are located in University City, Missouri (the "City"). <br />2. On January 16, 2004, a petition for the creation of a neighborhood improvement district in the 1200-1300 Blocks <br /> of Waldron was filed with the City. The petition was signed by the owners of record of at least two-thirds by <br /> area of all real property located within the neighborhood improvement district. Such district is hereby <br /> established. <br />3. The project name for the proposed improvement is the: "Waldron/Wellington Intersection Improvement <br /> Project". The general nature of the improvement is the removal of a steel street barricade at the intersection of <br /> Purdue and Wellington Avenues in the City, and the construction of a concrete island barricade and planter in its <br /> place. <br />4. Plans and specifications for the improvement were obtained by the City and approved by the neighborhood <br /> improvement project representatives. <br />5. The public improvement has been completed in accordance with the plans and specifications, at a final cost of <br /> $7,212.00, which represents $6,300 for contract installation and $912.00 for the planters. The City has paid <br /> $3,025.00 of the final cost, a sum that represents the insurance payment of $1,525.00 and a $1,500.00 <br /> contribution representing the cost the City would have incurred to install a new barricade at the project site. The <br /> property owners in the neighborhood improvement district owe the balance of $3,687.00 (the $500 Community <br /> Development Grant has been deducted). <br />6. The proposed improvement was advisable and in the public interest. -- <br />7. The boundaries of the neighborhood improvement district to be assessed include lots in the 1200 and 1300 <br /> Blocks of Waldron Avenue, 7200 Block of Carlyle and Orchard Avenues and the 1400 Block of Quendo. <br />8. The balance of final cost of the improvement to be assessed against the property in the neighborhood <br /> improvement district shall be apportioned against such property in accordance with the benefits accruing thereto <br /> by reason of such improvement. The method of assessment is for the final cost to be assessed equally per <br /> property owner as listed in Exhibit "A". <br /> <br /> BE IT FURTHER RESOLVED: That the $3,687 balance of the final cost of the improvement is hereby assessed <br />against each parcel of property deemed to be benefited by the improvement, as provided in the attached assessment <br />roll, marked Exhibit "A" and made a part hereof. The property owners may pay the assessments in full on or before <br />November 30, 2004, or may pay the assessments in substantially equal annual installments for a duration not to <br />exceed five years at an interest rate of 8% per annum. The first installment shall be payable after the first collection of <br />general property taxes following the adoption of this Resolution. <br /> <br /> BE IT ADDITIONALLY RESOLVED: That the proposed neighborhood block is hereby established. <br />Preliminary plans and specifications for the prot~osed improvement are hereby ordered to be made. <br /> <br />Motion seconded by Council member __ and carried. <br /> <br />Adopted this ~ day of ,'2004 <br /> <br />Icerti~fy~t~at the above lis a tree ex. cerpt from the minu,t~ oftlpe me~et~g off.the Qt~ty Coungil held <br /> hereby (~/ day of ~.~~.' , 2004.~d~ /V ~ ~~j~/ <br /> '~1 ~/ City Clerk - ;~' - 7 <br /> <br />on the <br /> <br /> <br />