04/22/97 - Laserfiche WebLink

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Priority Existing C D Total Annual Installation Total Annual Annual Cost Billing Carrying Billable Billing Amort. 20 Yrs. Cost1 Costs2 Costs Households Costs 12,684 6,050 254 18,988 5,042 3.76 16,170 6,180 310 22,660 5,150 4.40 27,922 6,180 558 34,660 5,150 6.73 1 Based on 5,150 households at 30¢ per household per quarter [based on existing plus budgeted additions for 1997] 2Carry costs to be recovered over 3 years at 6% The current annual billing rate for the priority street lights is $2.00 per residential household. When that rate was established, the actual installation costs of priority A and B lights was not known. With the addition of the C lights, which we have a "firm" proposal on, now would be the appropriate time to increase the annual fee to the amount needed to fund the program over 20 years. Based on the above table, the annual fee would be $4.40 per residential household or $1.10 per quarter. Recommendation: Staff recommends approval of the installation of the C priority lights with billings to residential properties increasing to $1.10 per quarter. The increased billings would commence the first full quarter following the completion of the installation. The total quarterly bill, for residential properties without municipal water and sewer, would be $4.15 [which includes $3.05 per quarter for recycling]. Each line item would continue to be shown separately on the billings. Committee Action: Based on discussion - order installation of C priority street lights and establish billing rate of $1.10 per quarter to all affected residential properties, with billing commencing the first full quarter after completion of the installations. Reviewed By: City Administrator Finance Director City Engineer FC: 04/22/97