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 $25,954.00;
3. That this capital recovery charge is divided into 15 equal installments; the first installment to be due on July 1, 2018, and the 14 subsequent installments to be due on July 1 of each and every year thereafter, with the deferred installments of the capital recovery charge to bear interest at the rate of 3.06% per annum on sanitary sewer;
4. That the Public Services Area be directed to send a copy of this resolution by electronic mail or first class mail to the owners of the property and to promptly have this resolution recorded in the office of the Register of Deeds of Washtenaw County, Michigan; and
5. That this levied capital recovery charge is to be invoiced to the owner, Sytch Maxim, of the property known as 2665 Geddes Ave., City of Ann Arbor, Washtenaw County, Michigan 48104, and to be credited in the amount of $25,954.00 to Fund 0043-078-8000-0000-7145.