Austin residents who will be affected by the upcoming street construction will have four options for paying their assessment bills.

City Engineer Jon Erichson explained the payment options Tuesday night at the City Council meeting.

Residents can pay the full assessment amount by Oct. 31, 2011, with no interest; pay 50 percent of the amount by Oct. 31, 2011, with no interest and have the rest of the bill spread out over their taxes for 15 years; pay the entire balance over the course of 15 years with six percent interest; or defer the assessment and interest until the property sold if the property owner is over 65 years old and financially qualifies.

Residential property owners will be billed $37 per linear foot of frontage and commercial property owners will be billed $53 per linear foot.

The project will affect a handful of areas throughout Austin, including the intersection of Fourteenth Avenue and Sixth Street Northeast near I-90 and the Hormel Plant. That area will undergo many changes, including new asphalt, curb and gutter, new drainage tile and better signage.

Just down the street from that, at Fourteenth Avenue and Fourth Street Northeast, the island will be removed and the intersection layout will be redesigned to make it a safer area.

Several other street projects will include updates to storm and sanitary sewer systems, curbs and gutters, new asphalt and wider and more aesthetically pleasing sidewalk areas.