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As this is proposed as a special assessment project, the cost - effectiveness from the <br />residents' standpoint also needs to be considered. It would not be surprising, depending <br />on what the resident's "cost versus benefits baseline" is, that they would not consider the <br />estimated project costs in this report to be cost - effective. However, that is why there are <br />it <br />public hearings as part of the special assessment process. <br />r�i <br />Are the improvements feasible? <br />There is-technical / engineering / construction feasibility, financial feasibility, and <br />procedural feasibility. <br />r. From a technical / engineering / construction perspective, there are no <br />1 <br />insurmountable problems apparent. Thus, from this perspective, the improvements <br />r, appear feasible. <br />Financial feasibility has been discussed in the cost effectiveness section above. It <br />should also be NOTED that the City will need to obtain bonds and provide funding for <br />this project, even if it is 100% specially assessed. The City has to pay various project - <br />related and construction costs before special assessments are paid to the City, either by <br />lump sum payments from the residents usually towards the end of the project or over <br />time on their taxes. While discussions and decisions on this question still need to occur, <br />we believe the improvements appear financially feasible. <br />With special assessments, there is a process, including involving public input. At any <br />time during this process, the project can be deemed unfeasible. However, at this initial <br />stage, we are not aware of any major obstacles from a procedural perspective. Thus, <br />from this perspective, the improvements appear feasible. <br />If made, would it be best for these improvements to be made as proposed or in connection with <br />some other improvement? <br />There have been discussions, as indicated earlier in this report, about combining <br />these improvements with possible proposed improvements to Wildlife Trail. <br />While there could be economies of scale realized in construction costs by combining <br />a paving of Wildlife Trail with these proposed improvements to this segment of North <br />Sluetter Road, there will be questions regarding equity amongst the two projects as well <br />as issues with Loon Lake Township / City at large costs. <br />Pequot Lakes — North Sluetter Road Improvements Study <br />WSN No. 013060045.000 Page 12 <br />