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<br />WHEREAS, Ordinance No. 827 and Ordinance No. 828 were adopted <br />in part to provide revenue for the recoveries required by the <br />Development Agreement as a reasonable means to defray the costs of <br />constructing, maintaining and operating the necessary public water <br />utility and street improvements provided pursuant to the <br />Development Agreement; and <br /> <br />WHEREAS, it is anticipated that Homart will have received by <br />July, 1994 all recoveries required by the Development Agreement for <br />water utility improvements and it is anticipated that Homart will <br />receive by July, 1995 all recoveries required by the Development <br />Agreement for street improvements; and <br /> <br />WHEREAS, City water tap fees and capital improvement fees have <br />undergone amendment, modification and revision by the enactment of <br />subsequent ordinances; and <br /> <br />WHEREAS, the City Council finds and determines that the water <br />tap fee and capital improvement fee, as amended, including any <br />amount attributable to increases originally enacted by Ordinance <br />No. 827 and Ordinance No. 828, have been adopted to defray the <br />costs and expenses of increasing the capacity of the City water <br />utility and providing water service and of constructing and <br />providing capital improvements, including major thoroughfares and <br />arterial streets; and <br /> <br />WHEREAS, The City Council finds and determines that the fees <br />established by the City's current water tap fee and capital <br />improvements fee structures, including any amount attributable to <br />increases originally enacted by Ordinance No. 827 and Ordinance No. <br />828, are necessary to provide revenue in a manner reasonably <br />designed to defray the overall costs and expense of the services or <br />facilities for which the fees are imposed, that new development and <br />growth is directly related to the need for improving, expanding, <br />and increasing the capacity of the City water utility improvements, <br />major thoroughfares and arterials, and other capital projects, and <br />that the fees, as increased from time to time, reasonably relate to <br />the needs created by or attributable to new development and <br />population growth; and <br /> <br />WHEREAS, the City Council finds and determines that the <br />current City water tap fee and capital improvement fee as codified <br />in the Louisville Municipal Code, including any amount attributable <br />or formerly attributable to the increases originally enacted by <br />Ordinance No. 827 and Ordinance No. 828, remain necessary to defray <br />the overall costs and expense of the services or facilities for <br />which the fees are imposed, and said fees reasonably relate to the <br />needs created or contributed to by past and new development and <br />anticipated population growth within the City; and <br /> <br />2 <br />