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Address
<br />8000 Highway10 NW
<br />7955 Riverdale Drive
<br />7945 Riverdale Drive
<br />7815 Riverdale Drive
<br />7103 Riverdale. Drive
<br />Owner
<br />Premier Armstrong LLC
<br />TIRAED LLC
<br />Pearson Investments LLC
<br />DSB Ventures LLC
<br />Pearson Investments LLC
<br />Area of Lot (ac)
<br />1.11
<br />1.23
<br />4.57
<br />2.38
<br />6.84
<br />Water Availibility Charge($1,148 /Ea)
<br />$1,148.00
<br />$1,148.00
<br />$1,148.00
<br />$1,148.00
<br />$1,148.00
<br />Connection Charge {$5,835 /ac)
<br />$6,476.85
<br />57,177.05
<br />$26,665.95
<br />$13,887.30
<br />$39,911.40
<br />Lateral Benefit Charge ($6,143/ac)
<br />$6,818.73
<br />$7,555.89
<br />$28,073.51
<br />$14,620.34
<br />$42,018.12
<br />Address
<br />7850 Riverdale Drive
<br />7820 Riverdale Drive
<br />Vacant, unassigned
<br />7550 Highway 10 NW
<br />Total
<br />Owner
<br />The Bank of Elk River
<br />Jesse Ternus
<br />Brad Fitch
<br />Hope Fellowship of
<br />Ramsey Inc
<br />2 -01 LLC
<br />Area of Lot (ac)
<br />1.53
<br />1.6
<br />29.24
<br />15.44
<br />63.94
<br />Water Availibility Charge 91,148/En)
<br />$1,148.00
<br />$1,148.00
<br />$1,148.00
<br />$1,148.00
<br />$10,332.00
<br />Connection Charge($5,835 /ac)
<br />$8,927.55
<br />$9,336.00
<br />$170,615.40
<br />$51,075.52
<br />$334,073.02
<br />Lateral Benefit Charge ($6,143/ac)
<br />$9,398.79
<br />$9,828.80
<br />$179,621:32
<br />$94,847.92
<br />$297,935.50
<br />collected is necessary to fund the other trunk improvements that are not proposed to be
<br />constructed with this project but are necessary for the existing and ultimate system (i.e. off -site
<br />trunk sewer mains, lift stations, forcemains, etc).
<br />Connection Charges — Water
<br />The City's schedule of rates and charges currently specifies Water Availability Charges (WAC)
<br />and connection fees for trunk water facilities (connection charge) and lateral water facilities
<br />(lateral benefit charge) which would be preferable for recapturing the capital investment.
<br />According to the adopted 2013 schedule of rates and charges, the above - mentioned fees are as
<br />follows:
<br />Water Charges
<br />Water Availability Charge (WAC) $1,148 per address
<br />Water Connection Charge (Commercial / Industrial) $5,835 per acre
<br />Water Lateral Benefit Charge $6,143 per acre
<br />A preliminary examination of the land area of the adjacent properties has been completed
<br />utilizing Geographic Information Systems (GIS) and preliminary estimates of the revenue
<br />collected at the time of connection are presented below in Table 4.
<br />Table 4. Estimated Water Main Connection Charge Revenue.
<br />Totals
<br />$632,008.52
<br />As can been seen in Table 4 above, the anticipated revenue ultimately collected for the Water
<br />System improvements is estimated to be $632,008, which is greater than the estimated
<br />expenditures for this project currently estimated at $521,000. However, the additional revenue
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