Subject:
Title
Adopt a resolution to implement the North Merritt Island Transmission System - Phase 2 Capital Recovery Fee.
End
Fiscal Impact:
Recovery of $1,335.81 per Equivalent Residential Connection (E R C) made.
Dept/Office:
Utility Services
Requested Action:
Recommendation
It is requested that the Board approve a resolution establishing the North Merritt Island Transmission System - Phase 2 Capital Recovery Fee of $1,335.81 per Equivalent Residential Connection (E R C).
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Summary Explanation and Background:
The Board approved Ordinance 20-02 on January 21, 2020 which established the North Merritt Island Transmission System - Phase 2 Capital Recovery Fee. The transmission system has been installed along North Courtenay Parkway from Hall Road to Church Street. This 6-inch force main will serve as the regional wastewater transmission system connection for all parcels on Merritt Island between the 2 streets mentioned. The Capital Recovery Fee is the method used to replenish department funds used to pay for construction.
The total project cost was $1,506,069.45, however the department received grant funds in the amount of $424,064.19 toward construction. The remaining $1,082,005.26 was pre-paid from Utility reserves. This $1,082,005.26 amount will be re-paid through this fee which prorates the amount by the number of anticipated Equivalent Residential Connections (E R C). It is estimated that there will be 810 connections made to the system. The per connection recovery charge is $1,335.81.
All new Utility Services customers are offered the option of paying all connection fees, including any applicable capital recovery fees, through an installment plan. A residential unit would typically receive 12 months to pay the one E R C charge in 12 equal payments. A customer using more than one E R C would receive a 24 month payment plan.
Clerk to the Board Instructions:
Please email a copy of the approved resolution and the Clerk Memo to Elizabeth Sw...
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