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City Council Minutes May 5, 2015 Page 6 of 9 Sluetter Road. Mr. Graham has spoken with the Loon Lake Town Board regarding his request to improve the road as one half of the road is located in Loon Lake Township. Loon Lake Township is agreeable to having the City upgrade the road if there is no cost to Loon Lake Township. Mr. Houle reminded the Council that this project is not in the City's budget. He suggested that if it is not appropriate to pursue the project this year, the Council may want to include it in the capital improvement plan for future years. Tim Houle explained that if the Council wants to proceed, it would be a special assessment project. The Council would have to decide who would pay for the footage that is located outside of the City of Pequot Lakes. State statute dictates that in order to proceed, property owners of at least 35% of the abutting footage must sign the petition. Because one half of the property is located in Loon Lake Township, a petition of at least 70% of the abutting property owners on the Pequot Lakes City side would have to sign in order to incorporate the footage of Loon Lake Township side. Maurey Graham — 5988 North Sluetter Road addressed the Council. He explained that he has talked to several of the property owners and that there are several who want the road paved. He further noted that the City of Pequot Lakes would benefit from the project as property values would increase. Mayor Sjoblad stated that the project is not in the City's road plan at this time He noted that the City does have the option of including the project in the Capital Improvement plan. Council Member Akerson stated that the City should follow the capital improvement plan. He noted that it would be difficult to deviate from the plan at this time when the City is presently dealing with the road turnbacks from the County and the State. He noted that he is not in favor of pursuing the North Sluetter Road project at this time. It was the consensus of the Council not to pursue the North Sluetter road project at this time but to consider adding it to the Capital Improvement Plan. 9.4. Highway 371 — Road Turnback Discussion Tim Houle stated that the Council formed a committee to review Springsted's financial analysis of the roadway turnbacks. The committee adjusted some of the costs including the overlay, interest rates, inflation, and operating expenses which were included in a revised spreadsheet.