HomeMy WebLinkAbout20010754.tiff tLEFT HAND WATER DISTRICT
weld Cou ty Plan
March 12, 2001 fling Dept.
Scott Carlson MAR 14 2001
P.O. Box 247
Eastlake, CO 80614 RECEIVED
Re: Idaho Creek
Dear Scott:
I was pleased to read in the Longmont Times Call that the Idaho Creek subdivision was approved
by the Weld County commissioners last week.
Enclosed is a summary of the payments due and other requirements for the development to
secure water service. In addition to these fees, we will also require evidence of compliance with
the "dual system"requirements,including documentation of the operation and maintenance of
the irrigation system by the homeowners association and policies of the association requiring use
of the irrigation system for landscape irrigation.
I think it would benefit everyone to set up a meeting to review the subdivision agreement, and
our respective obligations. For our part, we are moving forward with the Eastern Transmission
waterline project, with construction of the first phase scheduled to begin at the end of this month
and design underway for the second phase.
I look forward to hearing from you soon, please call me with any questions.
Sincerely,
Kath Peterson
General Manager
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cc: Weld County Planning w/enc
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P.O. Box 210 •Niwot CO. 80544•(303) 530-4200 • Fax (303) 530-52'.
2001-0754
IDAHO CREEK March 6, 2001
Within 10 days of final plat approval:
¶5. Prepayment of the then current plant investment fee component for 353 taps.
In contract, based on 2000 prices, total due in plant investment fees, storage fees, line fees
and the first payment of cash-in-lieu, was $1,782,575.00.
2000
150 DC PIF $6262x.40 $ 375,720.00
150 DC storage $1271x.40 76,260.00
203 ETZ PIF $5850x.40 475,020.00
203 ETZ line fee x $2500.00 507,500.00
$1,434,500.00
¶6. Add 1s`cash-in-lieu 348,075.00
$1,782,575.00
2001 revised schedule with new PIF (water stays the same)
150 DC PIF $7301x.40 $ 438,060.00
150 DC storage $1271x.40 76,260.00
203 ETZ PIF $6760x.40 548,912.00
203 ETZ line fee x $2500.00 507,500.00
$1,570,732.00
1St cash-in-lieu 348,075.00
$1,918,807.00
(this does not include $500,000 off-site improvement fee)
¶5. Take down schedule:
Year 1 50 DC zone
Year 2 70 DC zone
Year 3 80 30 DC zone
50 ETZ zone
Year 4 80 ETZ
Year 5 73 ETZ
¶6. Cash-in-lieu of Water-
• Raw Water for each tap pay cash-in-lieu at a rate of.663 units.
• Cash price for the water is "stipulated" at $10,500 per unit (remains the same)
• 1"'payment due 10 days after final plat approval.
• Payments as follows:
Total water = 234 units @ $10,500 = $2,457,410.00
Pt payment 10 days after final plat recordation = 348,075.00
(50 taps x .663 = 33.15 units)
2"'payment 1 year after recordation plat = 696,150.00
(100 taps x .663 = 66.30 units)
3rd payment 2 years after recordation plat = 696,150.00
(100 taps x .663 = 66.30 units)
4th payment 3 years after recordation plat = 717,035.00
(103 taps x .663 = 68.29 units)
Letter of credit for water payments required
¶6.2 Return of Water
After payment of 40% tap fees, etc. and 1S` water payment and payment of$500,000 off-
site improvement fee, and posting of letter of credit for cash-in-lieu water payments, District
returns 115 units C-BT to Carlsons.
¶7. Letter of Credit - 10 days after final plat approval, developer provides document securing
cash-in-lieu payments for water.
Off-site improvement fee= $500,000.00
Due:
• Before return of water units
• Before 151" tap is activated
Time:
Final plat approval/recordation $1,918,807.00
Year 1 50 taps @ 60% of then current DC PIF (4380.60) 219,030.00
50 taps @ 60% of storage fee (762.60) 38,130.00
Year 2 1 year after plat recordation/cash-in-lieu 696,150.00
70 taps @ 60% of then current DC PIF (4380.60) 306,642.00
70 taps @ 60% of storage fee (762.60) 53,382.00
Off-site improvement fee 500,000.00
Year 3 2 years after final plat 696,150.00
30 taps @ 60% of then current DC PIF (4380.60) 131,418.00
30 taps @ 60% of storage fee (762.60) 22,878.00
50 taps @ 60% of then current ETZ (4056.00) 202,800.00
Year 4 3 years after final plat 717,035.00
80 taps @ 60% of then current ETZ (4056.00) 324,480.00
Year 5 73 ETZ x 60% (4056.00) 296,088.00
By end Year 1 = $2,137,837.00
By end Year 2 = 1,502,792.00
By end Year 3 = 1,030,350.00
By end Year 4 = 1,041,515.00
By end Year 5 = 296,088.00
Figures are based on today's rates;fees paid will be at the then current rates.
F:\KIM\SUBDI V IS\IdahoCreek.Summary.wpd
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