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9/4/84 <br />Page -6- <br />had no problem with this. He reiterated that <br />they could do no more financially to contri- <br />bute to the construction of the Howard Berry <br />Treatment Plant. Something else to keep in <br />mind is that the housing market has changed <br />drastically. If Council were to lift the <br />building moratorium right now they would <br />use the remaining water taps for 1984. But <br />if the market doesn't change they will have <br />a very difficult time using all their water <br />taps in 1985. <br />Tom Hoyt, McStain Enterprises Mr. Hoyt stated that he was almost in the <br />same position that Mr. Butler was. He felt <br />that the commitment that they indicated earlier <br />was the maximum that they could do relative <br />to prepayment of water taps. The payback <br />scenario as represented in the 300 water taps, <br />if :he understood it correctly, is like going <br />to your bank to borrow money for a car and <br />saying "I need all the money now but I'm not <br />going to be paying you back for a year and <br />a half." He felt it would be impossible for <br />them to get a financial commitment where <br />they don't get anything in return for the <br />prepayment for 12+ years. <br />John Alshuler, Homart Mr. Alshuler stated that a few months ago <br />Homart entered into an agreement with the <br />City where they agreed to prepay 200-250 <br />water tap fees and they get to use them in <br />the future sometime. Therefore, he felt that <br />he could give the City not only a conceptual <br />no but an uneguitable no as far as paying <br />additional tap fees. What they have agreed <br />to do is handle construction management on <br />the Howard Berry Plant to help the City get <br />it on line from a private section standpoint, <br />but if they .hadn't agreed to put up the 1.368 <br />million dollars that would have dropped straight <br />thru to the bottom line of the City's budget. <br />So he felt that they were helping the City in <br />this respect and he felt it was safe to say <br />at this point as far as additional prepayments <br />they would not participate. <br />Larry Allen, 1954 Sunnyside Mr. Allen stated that he was present at the <br />Circle study session and he reviewed some of the <br />numbers - his concern is what percentage <br />was the Homart's participation in these <br />new water treatment facilities? There <br />