Ordinance - #83-05 - 08/23/1983 - Laserfiche WebLink

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-7- R.E.C.'s charged per acre of co~ercial and industrial land shall 5.5. 210.014 TERMS USED IN DETERMINING ASSESSABLE COSTS Contract Cost. Amount paid to contractors (construction costs*) for contructing the improvements and engineering, legal, right-of-way and condemnation costs. Construction Interest. Cost of financing during the time period of the improvement process starting when the amount paid the contractor equals the amount paid as escrow (if any) until the assessment roll is approved by the City Council. The interest rate will be at the expected assessment rate. Expenses to be Assessed. Cost incurred by the City in addition to the contract costs, including advertising, financing charges, administration and assessing. 4. Project Cost (Total Cost of Improvements). Total of contract costs, interest and expenses and work previously done but not assessed. 210.015 PROCEDURES RELATING TO SPECIAL ASSESSMENTS 210.015A SANITARY SEWER TRUNK Sanitary sewer trunk costs are apportioned to the net area that is benefited by the trunk facility constructed. The costs are then apportioned to each parcel by the rate/REC as determined by dividing the costs by the total REC's in the net area of benefit then multiplying that cost/REC by the net number of the REC's in the parcel. In a plat, the net area of the plat is multiplied by the REC/acre and the total R.E.C.s in the plat are multiplied by the cost per REC. Residential Equivalent Connection (REC) charges for sanitary sewer trunk service to dwelling units or other structures shall be collected at the current rate prior to the issuance of a building permit. If sewer connection or REC charges were previously assessed to a parcel or a part of a parcel and such land is developed with a more intensive use than was contemplated at the time connection or REC charges were assessed, additional REC charges shall be calculated based on the higher use. 210.015B SANITARY SEWER LATERAL Sanitary sewer lateral costs are apportioned to the property benefiting from the lateral sanitary sewer constructed. Apportioning the costs of the lateral may be done by dividing the costs of the lateral by the assessable front footage of the benefiting properties or by dividing the cost of the lateral constructed within a plat by the number of benefiting lots. Construction cost is the amount paid to contractors for constructing the improvements and cost of first time seal coating as estimated in new developments.