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RESOLUTION R-1920-15: A RESOLUTION OF THE COUNCIL OF THE CITY OF NORMAN, OKLAHOMA DECLARING A PAYBACK PROJECT FOR COSTS ASSOCIATED WITH RUBY GRANT WATERLINE PROJECT AND APPROPRIATION OF $54,419 FROM THE WATER FUND BALANCE.
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BACKGROUND: As a part of the Ruby Grant Park development project under the Norman Forward initiative, the Norman Parks Department is required to extend a 12-inch waterline from the existing 24-inch waterline along 36th Avenue NW approximately 1,565 feet east along the south side of Franklin Road. This line allows the Parks Department to develop their property as planned. The waterline also provides water service for the future development of other adjacent, undeveloped property to the north along Franklin Road without paying their fair share of the cost of the waterline extension at this time.
Ordinance O-9697-30 adopted by Council on February 11, 1997 established a process by which the City of Norman or other entities can recover the costs associated with the extension of utility lines through or by undeveloped property. Under this ordinance, the funding entity (or entities) can recover their costs for right of way acquisition, engineering, utility relocations, and construction from property owners who subsequently develop their property and connect to the utility lines. The property owners would be liable for their pro-rata share of the cost to install the lines.
For the first fifteen years after project acceptance, the project cost will be adjusted for inflation using the Engineering News Record Construction Cost Index (CCI). The annual inflation factor will be 3.67%, based on the January 2005 and January 2015 ENR CCI's of 7297 and 9972, respectively. At the end of the year fifteen and for each year thereafter, that cost will be reduced by twenty percent. At the end of the year twenty, the cost will be zero.
DISCUSSION: The Parks Department, through Norman Forward funding, would provide 49.8% of the waterline costs for ...
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