Title
Resolution Authorizing Sanitary Sewer Capital Recovery Charges for 2665 Geddes Ave. ($25,954.00)
Memorandum
Your approval is requested to levy sanitary sewer capital recovery charges totaling $25,954.00 on the property known as 2665 Geddes Ave. This parcel was annexed in 2007.
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 $25,954.00 Sanitary Sewer Capital Recovery Charge is to be levied and then made payable in 15 annual installments and will accrue interest at 3.06% per annum on the unpaid balance.
The sanitary sewer main was constructed by the City in 2016.
It is therefore recommended that Council levy this capital recovery charge according to the terms described above.
Staff
Prepared by: Matthew V. Horning, Treasurer
Reviewed by: Tom Crawford, Financial Services Area Administrator and CFO
Approved by: Howard S. Lazarus, City Administrator
Body
Whereas, The City owns capital described as follows:
Parcel ID 09-09-27-316-004 (2665 Geddes Ave.)
Sanitary Sewer:
Sanitary Sewer Main constructed in Geddes Ave. in 2016
Calculated as set forth per Section 2.42.4(4) of Chapter 28 of City Code
Net Sanitary Sewer Capital Recovery Charge $ 25,954.00
TOTAL OF CAPITAL RECOVERY CHARGES: $25,954.00
Whereas, the owner of 2665 Geddes Ave. is provided with sanitary sewer service; and
Whereas, Pursuant to Section 1:278, Chapter 12, of the Code of the City of Ann Arbor, the fair share of the cost of said capital is levied against certain properties and the fair share for this property has not been previously paid.
RESOLVED,
1. That Council levy a capital recovery charge against the following property which is specifically benefited by the above improvements:
Property Address: 2665 Geddes Ave.
City Assessor Code: 09-09-27-316-004
LOT 39 HILLWOOD SUB NO.3
2. That the full capital recovery charge levied is $25,95...
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