Agenda - 10-25-1982 - Laserfiche WebLink

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_ ORANGE COUNTY NORTH CAROLINA MEMO M Board o County Commissioners F10M: Ken 7h son, County Manager DATE: October 12, 1982 RE: Revised, Water and Sewer Extension Policy At its meeting on May 19, 1982, the Board reviewed a draft water and sewer extension polic prepared by staff. The policy set forth its intended purpose, the iaforma�ioyto accompany a request to the County Manager for funding, a aumber of crite I ia to be used in selecting projects for funding, a loan/pay- back revolving �:d financing arangement, advocated County ownership of major utility extensi as and proposed oversizing of utilities to serve additional surrounding dev Plopment. At the meeping there was discussip of the loan/payback schemeand the Board directed taff to send the propchied policy to the institute of Govern- ,16 have now completed their review. in addition sW hagdone furt *nd the document has Section I d leak 'ing as well as new on Women. Alternativ tive A) has n or water and ensio sewer ext the increased tax bas,e and t tow-as and counti es in Norh for approv- ing a project i whether the development wbea compl_ei ed will return taxes equal- ling or exceeding the County's investment in water and sewer lines. The required minimum payback period ranges from three to ten years in the Policies reviewed by staff. In tle proposed Orange County policy, payback through increased tax revenues is not a criteria for approving a project but is used to li it County funds spent on any one project. m Section IVB (alternative B) is the loan/payback funding arrangement co tained in the pi licy reviewed on 5/19/82. Wallace Harding has reviewed the a policy, and advises that Counties cannot be in the business of loaning money. Language has beela changed to allow the county to lease to a developer utilities it has construe ed with its funds.