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An option to consider is to allocate the costs on a per-unit basis,and treat the City as <br /> one unit. Then,the total cost would be divided by one additional unit.This addresses <br /> the concern about the City's responsibility,and because it reduces the cost per unit,it <br /> is a good compromise between the per-unit allocation and the per-linear-foot <br /> allocation. <br /> It is recommended that the cost to the benefiting properties be assessed over a 15 year <br /> period at an interest rate of 6.25%. <br /> A copy of the easement is attached. The easement is not a perpetual easement. The <br /> easement language enables the HCRRA to terminate the easement at the time the <br /> land is needed for the purposes of the HCRRA. Because the purpose of the HCRRA <br /> is rail transportation, the easement could be terminated if the land is needed for a <br /> light rail line. The probability of the land being needed in the foreseeable future for <br /> light rail is very low for two reasons. First, light rail is many years away from this <br /> portion of the metro area. Second,the land in Minnetonka Beach that is directly east <br /> of the land in the easement is owned by Minnetonka Beach and used as a public <br /> street. This land will not be available to the HCRRA for a light rail line. So a light <br /> rail line would not be able to be located in the driveway area. However, the area <br /> could be used for a use that supports the light rail line. <br />