11-13-1996 Council Agenda - Laserfiche WebLink

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noted that a $4,500 assessment, if levied for 10 years at 7.25% interest would yield an average annual payment of $635. Principal is equal over the assessment term with declining interest. Another resident asked that if there were an on- street path, would parking restrictions occur. Staff indicated that it would likely happen. A Maplewood resident suggested a one -way road be considered in this area. It should meander from Keller Parkway to County Road D. It should be a narrow road which would assist in slowing down cars. For those affected by the new water main, connection fees payable to the City equal about $460. Contractor costs for installation would also need to be considered. The City Administrator then asked for general consensus from those present on the proposed project. The vast majority favored reconstruction of the roadway. Residents were split on the need for concrete curb and gutter. The path was not favored, but if constructed, an on -road path is preferred over an off -road path. Staff indicated they would be recommending this project for construction in 1997 to the City Council and that this would occur at the November 13 meeting. If the Council agrees, an improvement hearing would then be scheduled for later in the year at which time all affected residents would again receive notice of that meeting. The City Administrator thanked those in attendance for coming this evening and for their input. -5- Page 62