Laserfiche WebLink
Following is a review of the financing proposed: <br /> <br />Sanitary Sewer Trunks <br /> <br />Based on the city's current assessment policy, the area of <br />benefit (see Exhibit B) for the sanitary sewer trunks would be <br />assessed on a Residential Equivalent Connection (R.E.C.). For <br />undeveloped areas, it is proposed to assess residential property <br />three (3) R.E.C.'s per acre and commercial and industrial zoned <br />property 5.5 R.E.C.'s per acre. <br /> <br />The estimated cost per R.E.C. was calculated to be $398.29. <br /> <br />To determine the cost per R.E.C., the total cost of the City's <br />sanitary sewer trunk system was divided by the proposed number <br />of R.E.C.'s to be serviced. The total cost of the trunk sewer <br />system is estimated to be $9.58 million. This cost was calcu- <br />lated by adjusting the cost of Plan III in the City's Comprehen- <br />sive Sewer Plan for inflation. The proposed number of R.E.C.'s <br />to be served was estimated to be 24,052. In determining the <br />number of R.E.C.'s, it was assumed only the area of the City <br />within MWCC's Sewer District No. 3 would be serviced. Also, <br />wetlands and public lands were assumed not to be developed as <br />stated in the assessment ordinance. <br /> <br />The following table shows the proposed sanitary sewer trunks <br />would be financed by the R.E.C. Method. <br /> <br />11 <br /> <br /> <br />