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<br />., <br /> <br />pointed out - or his question pointed out - the advantage <br />respect to the agreement with the developer on the road. <br />watermain is connected from Floral Drive, but I assume it <br />a loop that connects north as well. <br /> <br />with <br />The <br />forms <br /> <br />MR. CHRISTOFFERSEN: That's correct. <br /> <br />COUNCILMAN MULCAHY: We're putting in several hundred <br />feet of watermain adjacent to the park and adjacent to the <br />homes on the corner there without any assessment to that. Is <br />that being picked up by the 17 lots? <br /> <br />. <br /> <br />MR. CHRISTOFFERSEN: The watermain was estimated in the <br />total (inaudible) because it was part of a loop system. <br /> <br />COUNCI~~ MULCAHY: You're hooking up to a loop there <br />without getting any assessment (inaudible) or from the owner <br />on the corner. <br /> <br />MR. CHRISTOFFERSEN: The owner on the corner has already <br />received an assessment and has the benefit of the water along <br />Floral Drive. <br /> <br />COUNCILMAN MULCAHY: You didn't include them in this <br />assessment for that reason. <br /> <br />MR. CHRISTOFFERSEN: That's correct. <br /> <br />MAYOR WOODBURN: Any further comments or questions? <br /> <br />COUNCILMAN MULCAHY: On the stretch out for the two lots - <br />I wish somebody would tell me what the rule is on pay-off and <br />development. Can we get that paid off under certain circum- <br />stances? <br /> <br />MAYOR WOODBURN: As the lots are sold, they will be paid. <br />There's a minimum period of pay-off time. <br /> <br />COUNCILMAN MULCAHY: Are they subject to the development <br />agreement? <br /> <br />MRS. McNIESH: No, everything but the Hansen lot, and <br />the developer, under the agreement, has to pay 1/6 of the <br />total assessment each year. That could be in the form of <br />paying the assessment in full for a few of them, but 1/6 of <br />the total has to be paid each year. It would be all of the <br />lots except Hansen's would be paid off in six years. <br /> <br />COUNCIU~N MULCAHY: If we did any kind of an extended <br />payment - we do not have a development agreement with the <br />Hansens. It seems like we would have to have one in order to <br />extend payments. <br /> <br />MR. POPOVICH: You do not have to have a separate agree- <br />ment with them. You can determine the period of time. The <br /> <br />. <br /> <br />-7- <br />