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. � <br /> Consequently, the fourth year of this development, the City will realize $4Z,768.50 in <br /> tax revenue. This entire time, the City has no maintenance obligation within this <br /> development in light of the fact that the streets and lighting are private. The sewer and water <br /> mains will be dedicated to the City, however, that type of infrastructure typically is <br /> maintenance free for 25 years. Consequently, the City will realize over $1,000,000 in real <br /> estate taxes assuming there is no increase in the real estate taxes for a 25-year period. If you <br /> calculate an increase of less than 1%per year, the City would realize over $1.2 million <br /> dollars before they experience any maintenance obligations. <br /> I realize that $110,231.50 up front seems like a large reimbursement by the City, <br /> however, the net effect is the City gains a tremendous tax base with little or no obligation. <br /> After you have reviewed this matter, please contact me so that we can finalize the <br /> Pre-Annexation Agreement for The Reserve. <br /> Very truly yours, � �" <br /> � �� <br /> WINTERS, FEATHERSTUN, GAUMER, POSTLEWAIT, STOCKS & FLYNN <br /> EFF: glw <br /> cc: Tony Romano (via e-mail and fax) <br /> Phil Cochran (via e-mail and fax) <br />