The Paynesville City Council at their bi-monthly meeting on Wednesday set Wednesday, Oct. 14, for the assessment hearing. Letters explaining the assess-ments to the property owners affected by the project are ready to mail.
Peter Carlson, city engineer, informed the council that the cost of the total project was $937,045. Of that total, $634,533 will be paid by the city. Assessed to the property owners will be $338,511. Property owners will have a 10-year period to make installment payments at a rate of seven percent interest.
“The project cost about $35.41 per foot. The figures are very close to our feasibility report made prior to the start of the project,” Carlson said.