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Page ThI;"ee City Council Minutes November 21, 1983 and west over 5th Street to the bog area. Mr. Roos indicated that Area B of the total area would be assessed both the trunk line and lateral line rate and the other areas would be assessed a trunk line assessment. Mr. Roos indicated that the costs in the 1982 feasibility study were approximately $788,500 with approxi- mately $200,000.00 contributed by MSA funds which resulted in a typical lot assess- ment of $435.00. Mr. ROos indicated that a year later, bids were taken and the project was constructed. Mr. Roos further indicated that the final costs for the project were $725,400, with overhead costs at $159,500 for a total cost of $884~900. Mr. Roos indicated that the contributed MSA funds amounted to $252,000 which re- sulted in a final typical lot assessment of $443.00 which is within $8.00 of the original projected cost. The City Administrator then provided information to the audierice regarding the actual assessment. The City Administrator indicated that it is proposed that the assessment will run 15 years at a 10.75 percent interest rate. The City Ad.,.. ministrator further indicated that any resident could pay the assessment in full or make a partial payment within 30 days of the November 21, 1983 hearing date. The City Administrator also reviewed the areas assessed which included the school district and the bog area. The City Administrator indicated that the whole City pays for a portion of the assessment through school district taxes and also through City taxes for the bog area. Mayor Hinkle then opened the public hearing. Discussion was carried on regarding the feasibility study costs and the actual costs. Mr. Jim Goodin of 518 Jackson, questioned the weighted acres assessment. Mr.Jeff Roos indicated that the assessment was done on proposed land use and that commercial areas do contribute more to water runoff than the residential areas, therefore, commercial areas are assessed at 1~ times more than residential. Discussion was carried on regarding the disruption of the water and sewer service. Mrs. Pipenhagen questioned the improvement to 3rd Street from Hagen's grocery store to Gates Avenue and who was to pay for that improvement. The City Adminsitrator indicated that in the original project some sewer work was planned and that the City was approached by two owners of property on 3rd Street, requesting that the City authorize a complete restoration of 3rd Street. The City Administrator in- dicated that the change order for the complete restoration of 3rd Street was approximately $3,500 with the two property owners contributing $2,000 and the balance paid by State Aid money. Discussion was also carried on regarding completion of the project. Mr. Jeff Roos indicated that the contractors would come back and finish the project in the Spring with the completion of a second layer of blacktop on Gates Avenue and the sodding, seeding and fill that was necessary. Mr. Roos indicated that by completing the project in the Spring, it would allow the streets to go through a freeze-thaw cycle to make sure there were no problems with the street before the contract was satisfied and final payment was made.