HomeMy WebLinkAbout11-10-20 City Commission Packet Materials - C9. Cottonwood Subdiv Water Main Extension Payback Agreement
Commission Memorandum
REPORT TO: Honorable Mayor and City Commission
FROM: Lance Lehigh, Development Review Engineer Shawn Kohtz, City Engineer SUBJECT: Cottonwood Subdivision Water Main Extension Payback Agreement MEETING DATE: November 10, 2020
AGENDA ITEM TYPE: Consent Agenda
RECOMMENDATION: Authorize City Manager to sign the Agreement for Reimbursement for the Cottonwood Subdivision Water Main Extension. BACKGROUND: The developer of the Cottonwood Subdivision requested establishment of
a payback district for extension of a water main from Huffine Lane to the
Cottonwood Subdivision. This water main was constructed along the
property line of the parcel to the north of the Cottonwood Subdivision and
will provide water service to that property once it develops. The developer
negotiated a payback of $92,321 with the owner of the benefited property
as shown in the payback agreement.
FISCAL EFFECTS: Staff time to administer the payback district is compensated by a 7% administrative fee, which offsets the City’s costs. ALTERNATIVES: As suggested by the City Commission.
Attachments: Agreement for Reimbursement
Report compiled on: 10/21/20
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