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<br />City Engineer Peterson indicated he was asked to provide various options for funding and <br />Option Three is one of those options. <br /> <br />Council Member Travis noted that 7265 Main Street was assessed for five lots. <br /> <br />Mr. Zimley commented that he felt the property owner would be coming to the City in <br />the future with a development proposal that would include more than five lots. He then <br />asked ifthe watermain would be extended along Lavell Drive. City Engineer Peterson <br />indicated when that property is developed the City would extend water down Lavell <br />Drive. <br /> <br />City Engineer Peterson indicated he based the assessment on the front footage along <br />County Road 14. <br /> <br />Ms. Cathy Lattu of 7246 Main Street clarified that the developer of The Shores would <br />need to pay the assessment to run the waterline to the property and additional charges to <br />run waterline to each of the 10 lots. Council Member Broussard Vickers indicated the <br />developer would be paying all costs associated with connecting those 10 properties to <br />City water. <br /> <br />Ms. Lattu asked if the per lot costs to connect to City water had been determined. <br />Council Member Capra commented that it was more costly to run the City water system <br />than it would be to have 10 wells drilled. <br /> <br />Mr. Vargo, representing Mr. Rehbein, indicated he expected the approximate costs to <br />connect the 10 lots to be $60,000. <br /> <br />Ms. Lattu asked how much value is being added to those lots by having City water versus <br />well water. Council Member Broussard Vickers estimated that the property value of each <br />lot would increase approximately $6,000 or $7,000. <br /> <br />Ms. Lattu asked for the top dollar amount the City was willing to pay for water. Council <br />Member Broussard Vickers indicated that recent developers have been required to pay <br />50% of the cost to extend the watermain to the property and then all of the costs <br />associated with the water within the development. She further clarified that the portion to <br />be paid for by the City is the amount of the oversizing to benefit the City's overall water <br />system. <br /> <br />Council Member Broussard Vickers indicated that the City attempts to do its best to fairly <br />assess the value of the system to the property owners involved and noted that the amount <br />to be assessed cannot be more than the gain to the property. <br /> <br />Mr. Lattu asked for a rough estimate of the amount the City is willing to pay for <br />extending the watermain so he would have an idea of what to expect as his assessment. <br /> <br />Page 5 of28 <br />