MITCHELL, S.D.(KMIT)- The Mitchell City Council held a special meeting Monday night to canvass the results of last Tuesday’s election.  Following the special meeting, the council held a work session where the cost of the Lake Mitchell project was discussed.  The complete project, which includes dredging, is expected to cost $25 million.  The city would take out a 30-year SRF loan at 3.25 percent interest, which would add another $14.4 million.  Barr Engineering also recommended that the city treat the lake annually.  That will add $500,000 per year to the cost from 2027 to 2055.  City Administrator Stephanie Ellwein told the council that needs to be considered as well.

The annual treatments would increase the total cost to nearly $54  million, or around $1.8 million per year.  The money to pay for the loan and treatments would come from the general fund.  Councilman Steve Rice said he was concerned about revenues after looking at the city’s finances over the past 14 years.

Ellwein was asked if the lake project would hamstring the city when it comes to other future projects.

Barr Engineering is expected to make a presentation at next Tuesday’s Mitchell City Council meeting.  A vote on the Lake Mitchell project will likely follow.