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. The Division has completed its economic analysis of the district and determined that, based <br /> on preliminary estimates, the City will realize a positive return on its investment. The City's <br /> expenditure is for the installation of 5,120 feet of 6-inch watermain. The revenues to be realized <br /> from this e�ension include the tap fee to be paid by each property owner and the surcharge for <br /> water sales paid by each of the properties over a ten year period. The surcharge is the extra paid <br /> by water service customers outside the City's corporate limit. This surcharge is twice the charges <br /> paid by a property of the same classification inside the corporate limits. <br /> The 14 properties that have not signed an agreement may, at a later date, request service <br /> from the City. They will be processed by staff as they are received and can be administratively <br /> approved by the City Manager. This agreement, if approved, will increase the number of water <br /> agreement districts that the City cunently has to 18, representing a total of 510 properties. <br /> The installation of the new watermains to service this area is planned to be completed as part <br /> of this year's watermain extension program. This work will begin this fall and, subject to the <br /> contractor's progress and weather, should be completed by spring of next year. <br /> The boundary map and legal description for the Wilcox Wayside Farms Addition water <br /> service area are attached. In addition, a copy of the standard Water Service Agreement form is <br /> . attached. It is recommended by staff that the City Council approve the attached resolution <br /> creating the Wilcox Wayside Farms Addition Water Service Agreement District, authorizing the <br /> Mayor to execute individual water service ageements for Lots 1 - 9, 11, 30, 32 - 35, 37, 38, 41, <br /> 44, 47 - 50, 52 - 60 and 62 - 69 of Wilcox Wayside Farms Addition and authorizing that the City <br /> Manager may execute individual water service agreements for Lots 10, 12 - 14, 31, 36, 39, 40, <br /> 42, 43, 45, 46, 51 and 61 of Wilcox Wayside Farms Addition at such time that they may request <br /> water service from the City. <br /> City staffwill be available to answer questions that the Council may have at the meeting. , <br /> Attachments: 5 <br />