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To pay for a $6.8 million road and utility project completed in June in the Kremer subdivision, the Village of Caledonia set the property assessment at $5,303 per residential unit at a board meeting held Monday.
Residents can choose to pay over 15 years at 3 1/2 percent interest or pay in a lump sum, said assistant village engineer Tony Bunkelman.
The project included replacing water and sewer lines as well as widening roads throughout the neighborhood, and adding curb and gutter on portions of Ellis and Perry avenue, and portions of Kremer, Elizabeth, and Lora street.
At first the village board presented plans to have residents pay the bill over a 10-year timeframe, but the Village Board decided to change the terms after listening to several residents speak at the public hearing.