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♦Footnote to previous page <br />1.) Should persons in the area jointly agree to such it could <br />be an additional cost. <br />Presently the cost of a new mound system is $7,500-10,000. <br />Several of these areas are even able to install that. (In <br />addition it is proooRed that the rates for this project be <br />increased by the cosv of money for the project.) <br />Reserve Capacity - The reserve capacity onnection charges that <br />would be carried by the City would allow for eventual hook up of <br />other substandard areas in the vicinity that may some day be <br />hooked up. (The pipe and lift station size for this project to <br />meet PCA engineering standards will have the capacity for more <br />than the units proposed in the area. By using such an approach <br />the individual costs are reduced and on a comparative basis would <br />be substantially less than the City's "investment" in the most <br />recently completed project.) <br />Connection Requirement - All residents are required to hookup in <br />16 months (or those who currently have a failed, failing or <br />substandard system would be required to hook up to sewer within <br />18 months.) Those who agreed to waive their assessment appeal <br />could have the entire connection and surcharge converted to a <br />special assessment, with the assessment fee spread to be over the <br />life of the bonds. <br />ALTERNATIVES <br />1. Accept the information. <br />2. Discuss/propose alternative financing. <br />3. Table. <br />4. Request staff to prepare a timetable and requirements for <br />each point. <br />5. Hold an informational meeting. <br />6. Undertake a development moratorium. <br />RECOMMENDATION - It is recommended that Council discuss reactions <br />to financing and table for process and a future refinement of <br />construction and financing layouts.