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maintenan~.for three years @ $90/year = $270/light. Residential urban billing: Subdivision street <br />lighting ra~ · $1g25/quarter. Staff is also recommending Developer contribution: Street or traffic <br />signs - $120/~ign; City financing: Interest rate charged = Prime + 2 points. <br />Councilme~ber Beyer stated she has a problem with the prime + 2 points and felt it was "gouging" <br />the resident8 or d~veloper because the City would be making pure profit on this. <br /> <br />Finance Offi{:er I~telling stated City financing of projects will lower the City's investment pool and <br />interest e~gs;:therefore, the financing interest rate should reflect this lost income. <br /> <br />Councilme.mber Peterson commented that if a developer could get the money at a cheaper rate <br />elsewhere, h~/sh{~ has that option to borrow from there. <br /> <br />Motion by C_,oun¢ilmember Hardin and seconded by Councilmember Peterson to direct Staff to <br />prepare a r .e~olut~on amending the City's Schedule of Rates, Fees and Charges for the next Council <br />Consent Agelada. <br /> <br />Motion carded. Voting Yes: Councilmembers Peterson and Hardin. Voting No: Councilmember <br />Beyer. <br /> <br />Case #2: COnsider the Case of Anna Boe Connecting to the Municipal Sewer <br /> and Water System <br /> <br />City Engineor Jankowski stated that the City has received a request from Anna Boe of 14520 <br />Nowthen B~Ulevard N.W. for water service to her property. Her situation is somewhat unique in <br />that she has{:Watex service availability by virtue of the fact that a trunk water line was extended past <br />her propertjt ~to ~ovide looping to the new residential developments to the north of her property. <br />He stated h{ Sene Mrs. Boea letter explaining that he would request that Council deviate from the <br />City's stanclard t}olicy and find it acceptable, under the circumstances, to extend water service <br />without reqUirin~ extension of sanitary sewer service and if the guidelines of City Code are met, <br />approval for deferment of $7,637 under the City's financial hardship policy. <br /> <br />Councilme~nber :Hardin expressed concern that Mr. Jankowski had stated reasons for requesting <br />deviating fRnn the City's standard policy because if Council decided not to deviate from such <br />policy, this l:Ould~create hard feelings. He also expressed concern about setting a precedence. <br /> <br />Mr. Jankowski felt that there were circumstances in this case that would call for deviation from <br />standard policy. <br /> <br />Councilmember Hardin stated he did not have a problem with this particular case. <br /> <br />Councilmember Peterson stated that wording should be added to the effect that in the event a more <br />intensive uge of the land were to happen, the trunk assessment would be re-evaluated. <br /> <br />Motion by ~'C°uncilmember Hardin and seconded by Councilmember Peterson to approve the <br />deviation f~om the City's current policy requiring hook-up to both utilities due to the fact that the <br />sewer utility is ngt currently available and may not be required to be extended and to recommend <br />deferral ofithe $7,363 assessment, provided Mrs. Boe qualifies under the financial hardship <br />guidelines. ~ ' <br /> <br />Motion carded. Voting Yes: Councilmembers Peterson, Hardin and Beyer. <br /> <br />Budget <br /> <br />Committee/October 6, 1992 <br /> Page 2 of 3 <br /> <br /> <br />