Utilities: City provides information on North 1 West UEP & costs

From page 1A spectrum taking the longest financing option available are looking at a payout of six figures including interest at 6 5 percent over 30 years plus those connection and septic abandonment fees

Hayden said the city will seek grants and perhaps lower future interest rates to bring down the cost a little

That won’t help them much now some residents said

Jennifer Sperry said that although the open house was well run she’s “walking away with the same bill and same results

I almost had a heart attack when I saw the bill because we have an empty lot next to us, so we knew it would be higher, but this is double or triple what we were expecting, Sperry said “By the time we’re done we’re going to be paying $80 000 once you add the permit fee abandon the septic and connection It’s a hard pill to swallow ”

Polly Turmelle and her husband believe this is not the time to start another UEP after one of the worst hurricanes to hit the area

“The costs are so high and after the hurricane people haven’t recovered and they’re still paying these expenses It’s going to cost us all this money and we may have to put the house up for sale Turmelle said We can t pay it in full unless we take out a loan This is going to double our tax bill

The UEP will provide the area with all city utilities potable water, sewer, and irrigation water New roads and stormwater improvements will be built as part of the project The city has already extended utilities to nearly all of Cape Coral south of Pine Island Road and is currently working its way north

The city estimates that for those who choose to pre-pay in full between March 2023 through Sept 30, 2023, the assessments for a 10,000-square-foot lot in North 1 West will be $26 617 $7 246 for water

$13,330 for sewer and $6,041 for irrigation

The estimated Capacity Facility Expansion Charge is $6,750 $1,106 for water $3 390 for sewer and $2 254 for irrigation bring the total tally to $33 367

For those who choose to pay in full between Oct 1 2023 through July 31 2024 the assessments for a 10 000-square-foot lot in North 1 West will be $28,658 $7,802 for water, $14,352 for sewer and $6,504 for irrigation

The estimated Capacity Facility Expansion Charge is $7 273 $1 196 for water $3 650 for sewer and $2 427 for irrigation for a total tally of $35 931

As proposed property owners will have the option to pay annually over 20 25 or 30 years, with the first bill coming in November 2024 as an additional levy on the property tax bill

Over 20 years, property owners would pay $4 365 per year equal to $363 75 per month At 25 years property owners would pay $3,991 annually, about $332 58 per month Someone who chooses the default 30year option would pay $3 740 annually nearly $311 per month with the total payout estimated at $112 200 over the term of the loan

Information including a map and comprehensive 40-page packet may be found at www capecoral gov/uep/north 1 php

The final public hearing for the Final Assessment Resolution has been set for March 22 in the Council Chambers at City Hall 1015 Cultural Park Blvd

The meeting which will include public input will begin at 4:30 p m and is open to the public

The design for the other portion of the project, North 1 East, is about 70 percent complete Assessments have not yet been set but are expected to be noticed to property owners early next year