City Council Minutes 1986 04 15 - Laserfiche WebLink

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$11,231 annually. However, on the capital side there is balance in the Capital Improvement Fund at the end of build-out of $538,000, a $1.2 million balance in the Water Fund and a $507,000 balance in the Sewer Fund. There is a net budget benefit to the City according to the Fiscal Impact Analysis. There are two issuE~s that could potentially create impacts that would adversely affect the City, Wanush explained. The first is the increase in the rate of building activity. In 1986, there is a permit cap of 502 units. By allowing 70 additional units toy be tacked on to this cap, the City is increasing the maximum residential building. At this time, this cap is nowhere near the figure. However, should building begin to reach the upper lin-its, there would be a need to increase personnel for inspections depending on the rate of inspections. The other consideration is water distribution. The middle and low zones would exist on this site. Low zones would present no problem. However, middle zone affects are not certain at this time with additional building activity. A buried storage tank on Davidson Mesa would eliminate any problems and is scheduled in the Capital Improvements Program for 1987. Therefore, it would be a question of timing. Both the Council an:d the Planning Commission feel that the property meets all the requirements for annexation and is an overall benefit to the City. The four conditions that Planning Commission recommended for thEa Warembourg annexation are: 1) Developer agrees to provide a letter of credit or other means acceptable to the City and an up-front payment of $277,968 to cover the deficit water requirements for tYie project. The City would use this fund to buy raw water. Each building permit on the property would then be reduced by $801 as a rebate for the prepayment; 2) Property should develop over a 5-year period with a building permit allocation of 70 units per year; 3) Existing Warembourg house be charged a Service Expansion Fee of $2'.25 per sq. ft. up to a maximum of $5,000; and 4) A.11 existing water rights including the well be dedicated to the City. Dennis Drumm, Vice--President of RB Development, representative for Warembourg, made a presentation to Council explaining that they have submitted a request that a final decision on annexation and zoning not be made this evening so that concurrent to annexation and zoning a subdivision plan and PUD plan could be developed. This would allow 4