An owner or owners of a lot or parcel with an existing completed building(s) or structure(s) as of the effective date of this section required to be connected to City water or sewer utilities as a result of discontinuation of service from another water or sewer purveyor, may apply to the City for connection and obtain a credit against the Utility Connection Fee, the Utility Capital Facility Charge, and the Project Development Fee pursuant to an agreement to pay a surcharge added to his/her combined utility billing calculated as follows:
The surcharge shall be the sum of the Utility Connection Fee, the Utility Capital Facility Charge, and the Project Development Fee increased by an interest factor determined by the City to reflect the City’s cost of borrowed money for a five year term, said number being divided by sixty (60) to arrive at the monthly surcharge.
Said agreement shall be memorialized in writing and shall authorize the City to record a lien against the lot or parcel for which the surcharge is due. Upon signature on the agreement and recording a lien against the lot or parcel, the owner or owners shall receive a credit equal to the full amount of the Utility Connection Fee, the Utility Capital Facility Charge, and the Project Development Fee.
Upon payment of all other charges due for utility connection, sewer, and/or water service shall be commenced to the lot or parcel. (Ord. 2086, 2005; Ord. 2136, 2007)