Title
Resolution Authorizing Water and Sanitary Sewer Capital Recovery Charges for 2118 Victoria Circle
Memorandum
Your approval is requested to levy water capital recovery charges totaling $5,274.00 and sanitary sewer capital recovery charges totaling $6,707.00 on the property known as 2118 Victoria Cir. This parcel was annexed 2023.
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 5.035687% per annum on the unpaid balance. The $6,707.00 Sanitary Sewer Capital Recovery Charge is to be levied and then made payable in 6 annual installments and will accrue interest at 3.06468% per annum on the unpaid balance.
The water main was constructed by the city in 2004.
The sanitary sewer main was constructed by the city in 2004.
It is therefore recommended that 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 2004 located in Victoria Circle, which is a part of the city's water system;
Whereas, The City constructed a Sanitary Sewer Main in 2004 located in Victoria Circle, which is a part of the City's Sanitary Sewer System;
Whereas, The owner of the real property commonly referred to as 2118 Victoria Cir. (which has a Parcel ID No. 09-09-18-402-015) connected to the Water and Sanitary Sewer Mains on or about August 11, 2023;
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 acc...
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