Title
Resolution Authorizing Water and Sanitary Sewer Capital Recovery Charges for 3039 Stone School Rd.
Memorandum
Your approval is requested to levy water capital recovery charges totaling $2,696.00 and sanitary sewer capital recovery charges totaling $5,982.00 on the property known as 3039 Stone School Rd.
City of Ann Arbor Code section 1:278, Chapter 12, requires the property owner to pay the property's share of the existing utilities through the City Capital Recovery charge. The $2,696.00 Water Capital Recovery Charge is to be levied and then made payable in 3 annual installments and will accrue interest at 5.035687% per annum on the unpaid balance. The $5,982.00 Sanitary Sewer Capital Recovery Charge is to be levied and then made payable in 5 annual installments and will accrue interest at 3.06468% per annum on the unpaid balance.
The water main was constructed by the City in 2002.
The sanitary sewer main was constructed by the City in 1960.
A credited recovery charge applies for a parcel that was part of the city before 2004, or whose parent parcel was part of the city before 2004, and connects to a utility main built before 2004. This parcel was in the City of Ann Arbor prior to 2004.
It is therefore recommended that City Council levy these capital recovery charges according to the terms described above.
Staff
Prepared by: Crystal Allen, Deputy Treasurer
Reviewed by: Marti Praschan Financial Services Area Administrator and CFO
Jennifer Richards, Assistant City Attorney
Approved by: Milton Dohoney Jr., City Administrator
Body
Whereas, The City constructed a Water Main in 2002 located in Eisenhower Pkwy, which is a part of the City's water system;
Whereas, The City constructed a Sanitary Sewer Main in 1960 located in Eisenhower Pkwy, which is a part of the City's Sanitary Sewer System;
Whereas, The owner of the real property commonly referred to as 3039 Stone School Rd. (which has a Parcel ID No. 09-12-10-201-026) connected to the Water an...
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