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located at 11817 10th Street North. Assessments for sanitary sewer and watermain improvements will be <br />levied over a 20-year period and charged an interest rate of 5.50%. <br />Table 1: Preliminary and Final Assessment Amounts <br />Property Preliminary <br />Sanitary Sewer <br />Assessment <br />Final Sanitary <br />Sewer <br />Assessment <br />Preliminary <br />Watermain <br />Assessment <br />Final <br />Watermain <br />Assessment <br />Lake Elmo <br />Elementary School <br />$795,200 total for <br />142 units <br />$653,200 total <br />for 142 units <br />$0 $0 <br />Oak-Land Middle <br />School <br />$784,00 total for <br />140 units <br />$644,000 total <br />for 140 units <br />$168,000 total for <br />140 units <br />$154,000 total <br />for 140 units <br />11817 10th St N $5,600 total for 1 <br />unit <br />$4,600 total for 1 <br />unit <br />$1,200 total for 1 <br />unit <br />$1,100 total for <br />1 unit <br />FISCAL IMPACT: The total estimated project cost at completion is $1,456,900, including $1,313,800 for <br />sanitary sewer extension and improvements, and $143,100 for watermain extension. The improvements <br />will be funded 100% through Special Assessments. The city maintains on file a Petition and Waiver <br />Agreement signed by the Stillwater Area School District in support of their share of the project costs. <br />OPTIONS: <br />Aprove the Resolution adopting the final assessment roll. <br />Do not adopt the Resolution and delay the adoption of the final assessment roll. <br />RECOMMENDATION: Staff is recommending that the City Council approve a Resolution Adopting the <br />Final Assessment Roll for the Stillwater Area School District Utility Improvements. The recommended <br />motion is as follows: <br />Motion to approve Resolution No. 2025-072, Adopting the Final Assessment Roll for the Stillwater <br />Area School District Utility Improvements. <br />ATTACHMENTS: <br />1.Resolution Adopting the Final Assessment Roll. <br />2.Notice of Hearing on Proposed Assessment. <br />3.Final Assessment Roll.