Title
Resolution Authorizing Water Capital Recovery Charges for 3090 Geddes Av. ($5,274.00)
Memorandum
Your approval is requested to levy water capital recovery charges totaling $5,274.00 on the property known as 3090 Geddes Av. This parcel was annexed in 2022.
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 $5,274.00 Water Capital Recovery Charge is to be levied and then made payable in 5 annual installments and will accrue interest at 2.8384% per annum on the unpaid balance.
The water main was constructed by the city in 1969.
It is therefore recommended that Council levy this capital recovery charge according to the terms described above.
Staff
Prepared by: Michael J. Pettigrew, City 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 1969 located in Geddes Avenue, which is a part of the city's water system;
Whereas, The owner of the real property commonly referred to as 3090 Geddes Av. (which has a Parcel ID No. 09-09-34-116-020) connected to that Water Main on or about March 11, 2022;
Whereas, Pursuant to Chapter 27 (Section 2:22b) of the City Code, a property that newly connects to the City's Water System is required to pay a Water Capital Recovery Charge in accordance with the Code;
Whereas, The net (and total) Water Capital Recovery Charge for such connection, calculated as set forth per Section 2.22b(1) of Chapter 27 of City Code, is $5,274.00; 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, That Council levy a capital recovery charge agains...
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