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29 properties to be affected
By Anne Thom
The June 24 Stacy Council meeting was preceded by a public meeting for consideration of a resolution that will result in a tax levy for approximately 29 homes and businesses. There were few citizens in attendance as Stacy’s financial advisor Todd Hagen of Ehlers and Associates made his sales pitch.
According to the resolution, the city is pursuing tax abatement as authorized under state statutes. The 29 properties identified on the resolution’s Attachment B, according to the city, will benefit from the infrastructure improvements proportionate to the cost of the amount they will be levied. Bonds will be sold to cover the cost of general and routine road maintenance; crack sealing, coating, gravel, and drainage.
The city will pay for the project through the issuance of $220,000 in general obligation bonds. The bonded amount will be repayable over 10 years.
“It’ll give us a little jump start to our road maintenance plan,” said Hagen. He said the city could then start the process of annually putting money away in order to be able to pay for future projects with cash. The bond sale will take place July 8 and Hagen will report to the council that evening. Hagen speculated that the bond rate would be in the neighborhood of 3.5 percent, but warned due to recent market volatility, it could be higher.
Stacy resident Margaret St. Sauver asked, “Do we know how much each taxpayer will be assessed?”
Continued from front
Hagen’s best guess based on a 3.5 percent rate is that per $100,000 value of a home, the cost of the levy would be $27-$28, thus on a $200,000 home, the annual tax increase would be $55-$60 for 10 years. “We’re trying to keep things really level,” Hagen said.
The resolution passed unanimously.
Main Street district
The council has worked over the last few years on the creation and expansion of a general business district along Stacy’s main street, Stacy Trail. Real estate agent Fred DeWall brought the simultaneously sad and good news to the council; the Dufeck property at 5592 Stacy Trail is for sale as part of an estate sale.
DeWall said, “Their (the Dufeck family’s) intention is to sell this as a commercial piece of property.” The sticking point to development of the property is access to Sherman Oaks Road and the Sherman Oaks Road extension, controlled by AMW Corporation which is currently held up by legal issues against the Chisago County board.
Residents will recall the numerous issues with the access being blocked by concrete barricades and later by AMW Corporation. The city’s old fire barn also stands in the way. The property is essentially landlocked without an easement from one side or the other.
DeWall said an easement would affect the marketability and value of the property. He is approaching the council to work out either an agreement with AMW to buy Sherman Oaks Road extension or to add to the parcel city land to insure access to the parcel. For the city to insure access the old fire barn would have to be part of the sale.
Mayor Daher told DeWall the city has been trying to work out an agreement with AMW for over two years. Councilor Aslakson, a partner in AMW blamed the county for holding up the process.
Lions’ quest
The Stacy Lions continue their high profile quest to upgrade Rick Doyle Memorial Fields. Lions president Jerry Schroeder brought bids for the installation of fencing and dugouts. The Lions were seeking $5,000 to get the work done before the ball season ends. The council authorized taking $5,250 from the Park and Recreation fund and the bid was awarded to Top Notch Fencing. Top Notch has agreed to knock $350 off of their price in exchange for a sign advertising their business.
Meadows Park in the Richland Meadows development will soon be spruced up too by the addition of seven maple trees along the perimeter of the park.
The council overruled Park and Recreation Committee members who had called for plans to plant an assortment of crabapple trees.
City Clerk Sharon Payne did not recommend the crabapple trees as city maintenance staff had expressed their concern that kids use the fallen crabapples “as weapons against each other,” leaving the city open to potential liability.
Stacy resident and former maintenance worker David Cook will be hired to get the park area readied for planting the trees this summer.
Payne was authorized to cash in a certificate of deposit in the amount of $61,797 to cover the several park and rec expenses including the fencing at Doyle Field and the landscaping in Meadows Park.
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