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Sisk replied that the increase would be approximately seventeen and one-half percent. <br /> <br />Lathrop stated that he raised an objection to this during the City Council Finance <br />Committee. He explained that if the water tap rates were going to be increased by twenty <br />percent, the amount for a commercial water tap would increase from $4,000 to $8,000. <br />He expressed concern that this increase would cause developers to reconsider building in <br />Louisville, specifically in the Colorado Tech Center. He encouraged Council to consider <br />a smaller increase in water tap fees. <br /> <br />Davidson replied that the City did not have the benefit of smaller increases in the cost of <br />water. He stated that there are two choices - either charging the user requesting new <br />water or charging the current water users. He explained that another option would be to <br />increase water rates, which he is opposed to. <br /> <br />Lathrop stated that there is currently a demand for commercial/industrial space close to <br />the metropolitan area, which places space in the Colorado Tech Center in demand. He <br />questioned what would happen when commercial/industrial space in Louisville is no <br />longer in demand and the City continues to purchase water to accommodate users of the <br />Colorado Tech Center. <br /> <br />Mayer stated that with Louisville's exceptionally low property tax, the sales tax is <br />suPporting development in Louisville. He agreed that the City could only purchase water <br />as it's needed, however, by purchasing water now the City will have it available to those <br />needing it in the future, when the price will possibly be even higher. He agreed with <br />Davidson that the City has the choice of either charging those requesting new water or <br />passing that cost onto the current water users. <br /> <br />Sisk stated that Colorado Big Thompson water was $5,000 per share last year and is in <br />the $7,500 plus range this year, with no indication that the price will be decreasing in the <br />near future. He agreed with Lathrop that economics need to be taken into consideration; <br />however, he felt that the increase was justified. He stated that the water tap fees in <br />Broomfield and Erie reflect the same increase that the Mayor is proposing. <br /> <br />Howard stated that the City just lowered the monthly sewer assessment and asked if the <br />water rates are scheduled to change for 2000. <br /> <br />Ray replied that the monthly sewer assessment fee of $1.50 was removed and the <br />monthly water fee is also decreasing by $1.50, for a total reduction of $3.00 per monthly <br />utility bill. <br /> <br />Howard asked what percent decrease this would reflect. <br /> <br />Ray replied that she was uncertain what the percentage would be and offered to provide <br />the information later in the meeting. <br /> <br />4 <br /> <br /> <br />