Originally, the diameter was 110 m, so the radius was 55 m. To get the area, you square the radius and multiply by π. That's 55^2 * π, making the original area 3025π m^2.
After, the diameter decreased to 107 m, making the radius 53.5 m. Again, you square the radius and multiply by π, making the new area 2862.25π m^2.
Subtract the 2862.25π from 3025π, giving you a total reduction of 162.75π square meters.
Rounded to the nearest hundredth, that's 511.29 square meters.