The Blue Earth City Council conducted the final assessment hearing for the 2022 Street and Utility Improvement Project on Tuesday evening.
The council then voted to approve a resolution adopting the final street project assessments to benefitting property owners.
The project’s total cost came to $4,738,319. It will be financed through a general obligation bond with at 3.13% interest rate. The costs will also be partially covered through sanitary sewer and water rates, the Storm Sewer and Street fund with $957,747 covered through property tax assessments.
The council was also updated by Bolton & Menk on the proposed 2023 Street Improvement Plan.
Streets under consideration for full reconstruction include Rice Street from First Street to Seventh Street and a block of Second Street from Gorman to the train tracks. Portions of 10th and 11th Streets are under consideration for mill and overlay and underground work.
The project is estimated to cost roughly $3 million.