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1986
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9/2/2015 1:04:40 PM
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CITY CLERK
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BASIS FOR ASSESSING REFUNDS <br />PUBLIC HEARING <br />FOR <br />FITZHUGH, STILLHOUSE ROAD, LOOP 286 N.E. <br />PRO RATA WATER MAIN EXTENSION <br />March 24, 1986 <br />1. The Pro Rata Share of Cost for the L.P. McCuistion Regional <br />Medical Center shall be 28% of the total cost of construction, <br />engineering, inspection and project administration to a maximum <br />of $20,000.00. <br />2. The Pro Rata Share of Cost for properties located South of Loop <br />286 shall be 60% of the total cost of construction, engineering, <br />inspection and project administration. Refunds due for this <br />section shall be paid based upon the potential commercial or <br />residential use of the property and upon the lot frontage <br />adjacent the Project. <br />Owners benefiting from service available to property with <br />commercial potential shall refund the equivalent of 60% of the <br />cost of constructing a ten inch (10 ") water main from point A to <br />point C, as shown on the property owners map attached hereto, <br />less that cost to be refunded by owners of property located <br />adjacent to the Project and having residential potential. <br />Individual refunds shall be apportioned based upon lot front <br />footage using the cost per front foot determined below. <br />COST PER = 0.6((Cost of 10" From Pt.A to C)- (0.36)(Cost of 6" From Pt.A to B)) <br />FRONT FOOT Total Commercial Front Footage <br />OF COMMERCIAL <br />0.6(($82,520.32) - (0.36)($11,000.00)) <br />2523.1' <br />_ $18.68/Ft. <br />Owners benefiting from service available to property with <br />residential potential shall refund the equivalent of 36% of 60% <br />of the cost of constructing a six inch (6 ") water main adjacent <br />to the properties having said residential potential. Individual <br />refunds shall be apportioned based upon lot front footage using <br />the cost per front foot determined below. <br />COST PER _ 0.6((.36)(Cost of 6" From Point A to B)) <br />FRONT FOOT Total Residential Front Footage <br />OF RESIDENTIAL <br />0.6((.36)($11,000.00)) <br />1541' <br />$1.54/Ft. <br />EXHIBIT A <br />
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