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January 18, 1984 <br />Page 4 <br />Fee Calculations /50 East County Road B <br />Description <br />1. Lateral Fee <br />A. Assessment Fee: <br />(1) Lenial Foot Factor: <br />(a) 120' @ $22 - $2,640 <br />(b) 120' @ $30 - $3,600 <br />(2) Present Value <br />(a) 7.25% for 14 yrs. <br />($2,640 x .3659) <br />(b) 6.25% for 14 yrs. <br />($3,600 x .4199) <br />2. Trunk Fee: <br />A. Assessment Fee: <br />(1) Lenial Foot Factor: <br />(a) 120' @ $12.98 <br />(2) Unit Charge: <br />(a) 2 units @ $260 <br />(b) 2 units @ $250 <br />B. Tax Levy Fee: <br />(1) $44,806 @ .0130507 <br />(2) $44,806 @.0275199 <br />Sanitary <br />Sewer System Water System <br />965 <br />520 <br />584 <br />Total Estimated Fees $2,069 <br />1,511 <br />1,558 <br />500 <br />1,233 <br />$4,802 <br />Dr. Taylor has agreed to pay connection charges to the City <br />of Little Canada for a sanitary sewer system and water system. <br />Iie only requests that these charges be a fair and equitable <br />amount based upon what he would pay if his property were located <br />within the City of Little Canada. Obviously, this formula sets <br />forth a new concept in determining connection charges in that it <br />proposes a one time only charge to be paid by the nonresident <br />property owner. Along with the concept of a one time only <br />charge, the City must consider such necessities as present value <br />of monies that would otherwise be paid over a term of years. <br />Since the City will have the benefit of current use of those <br />1 `3 <br />