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FEASIBILITY STUDY GEMLK 186534 Page 5 5 Cost Recovery 5.1 Benefits and Assessments The City intends to levy special assessments to the benefiting properties in accordance with Minnesota Statute 429. This state law allows the City to assess adjacent properties for the costs associated with the project improvements. In addition to special assessments, the City will be utilizing a Grant to fund the remainder of the project. Following the 429 Statute, once the feasibility report is received by the City Council, a Public Improvement Hearing will need to be ordered and held. Within six months of the Public Improvement Hearing, a Council vote to adopt a resolution ordering the improvement will need to be taken or another hearing will need to be held. “Ordering” the improvement means authorizing the preparation of the plans and specifications and moving ahead towards bidding and construction. 5.2 Special Benefit Analysis An independent appraiser was hired to determine the benefit amount for the properties to have access to City supplied water, the report is attached and determined that the maximum accessible amount is $X,XXX. 6 Proposed Schedule The following schedule lists the steps and schedule the City will need to follow to construct the improvements outlined in this report during 2026: Item Date • Council Authorized Feasibility Report .............................................. June 17, 2025 • Council Receives Feasibility Report ............................................... Sept. 21, 2025 • Council Orders Improvement Hearing ............................................ Sept. 21, 2025 • Public Improvement Hearing ....................................................... October 21, 2025 • Council Authorized Preparation of Plans and Specifications ...... October 21, 2025 • Council Approves Plans and Specifications and Orders Advertisement for Bids ................................................ December 16, 2025 • Open Bids ................................................................................... January 13, 2026 • Award Project .............................................................................. January 20, 2026 • Assessment Hearing ................................................................... January 20, 2026 • Project Construction ..................................................................... April – July 2026