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Discussion Paper <br />March 12, 1998 <br />Page 6 <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 />I. Benefiting 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 f:VawiW\amiprold= \reports \w pol_lo. a <br />