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the Oak-Land Middle School and new Elementary School properties, there is one additional benefitting <br />property located at 11817 10th Street North. Assessments for sanitary sewer and watermain improvements <br />will be levied over a 20-year period and charged an interest rate of 5.50%. <br /> <br />FISCAL IMPACT: The total estimated project cost is $1,754,000, including $1,584,000 for sanitary sewer <br />extension and improvements, and $169,200 for watermain extension. The improvements will be funded <br />100% through Special Assessments. The city maintains on file a Petition and Waiver Agreement signed by <br />the Stillwater Area School District in support of their share of the project costs. <br />OPTIONS: <br />• Adopt the Resolution declaring costs to be assessed and call for a hearing on the proposed assessment. <br />• Do not adopt the Resolution and delay the final assessment hearing with assessments to be levied in <br />2026. <br /> <br />RECOMMENDATION: Staff is recommending that the City Council approve, as part of the consent <br />agenda, a Resolution Declaring Costs to be Assessed and Calling for the Hearing on the Proposed <br />Assessment. If removed from the consent agenda, the suggested motion to approve this action is as follows: <br /> <br />Motion to approve Resolution No. 2025-062, Declaring Costs to be Assessed and Calling for the <br />Hearing on the Proposed Assessment for the Stillwater Area School District Utility Improvements to <br />be held on October 21, 2025. <br /> <br />ATTACHMENTS: <br /> <br />1. Resolution Cost to be Assessed and Calling for Hearing on Proposed Assessment. <br />2. Notice of Hearing on Proposed Assessment. <br />3. Final Assessment Roll.