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w <br />j’ifry- . <br />-■J.; <br />Wi <br />i?" <br />?-■ <br />i <br />I <br />km- <br />U:P- <br />$ <br />h- <br />W" <br />i»' <br />m-. <br />■ii#te- <br />l^; - '; ^ ■' <br />Wt.' -«-■ <br />-if.-V^'f-lV, : • <br />Stubbs Bay Sewer Assessment Hearing Issues <br />May 18, 1992 <br />Page 3 <br />4.405 and 400 Oxford Road, There are two properties <br />which abut both Oxford Road and Baysice Road. If the <br />Oxford area was not included in the project, these two <br />properties would be included in the project because <br />they are adjacent to the trunk line and as such they <br />would be assessed at a rate of $8,840.00. If the <br />Oxford area is included in the project, they are to be <br />included with the Oxford area with an assessment of <br />$14,990.00. They have argued that it is unfair to be <br />lumped into the higher cost area. <br />Although it may seem that these two properties are being <br />treated unfairly, the inclusion of Oxford Road in the project <br />does provide additional benefits to these properties. These <br />properties are paying the same assessment as the other Oxford <br />properties which receive similar benefits. <br />The additional benefits and higher costs are both related to <br />the reconstruction of Oxford Road. The actual cost of the road <br />is approximately $9,000.00 per unit. Because the City is funding <br />35*6% of the total cost, the Oxford residents would pay <br />approximately $5,800.00. The existing road is 14 years old. It <br />will need to be replaced in less than 10 years. The cost to <br />replace the road will continue to increase each year. If the <br />Oxford Homeowners Association did this project on its own, it <br />would pay the total cost and would not be able to finance the <br />project over 15 years at 8%. <br />lev <br />j