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' Discussion Paper <br />March 12, t 998 <br />Page 6 <br />1 <br />8 <br />Chapel Hill paid approximately 11 percent of the total cost ($342,109) and the OWASA rate base <br />assumed the remaining 50 percent of the total cost ($1,595,096). <br />Since the expiration of the 30-month assessment policy in June 1996, additional petitions for sewer <br />extensions have been received by OWASA. The Board desires to consider these petitions as part of a <br />long-term policy. <br />Funding Alternatives <br />Possible alternatives for funding assessment. projects are outlined below. Potential advantages and <br />disadvantages are indicated by plus (+) and minus (-) signs respectively. <br />1. Benefitins Party Pays 100 Percent Of Assessment Project Costs <br />+ Complies with cost-of-service methodology stipulated by the Agreements of Sale and Purchase. <br />+ Eliminates. financial impact on existing customers. <br />- Financial impact on benefiting parties can be substantial. <br />- Needed water and sewer improvement projects may not be done in a timely fashion without <br />financial assistance. <br />jbr C:v«su~~e~am~peo~auaaeport.~,•~po~_to.,.m <br />