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Home My WebLink AboutWater Late Comers Agreement with Om Namah Laxmi, LC for Holiday Inn Expresst - -' , ~0~ IIA ~ N YA~~O ER FEE--~ D~FtlTY~ /~~- ~0~07Z403 WATER LATE COMERS AGREEMENT This Agreement made and entered into this ~S relay of ~~ ~ 2001, by and between OM NAMAH LAXIVII L.C., an Idaho Limited Liability Corporation, hereafter referred to as "DEVELOPER", and the CITY OF MERIDIAN, hereafter referred to as "CITY" WITNESSETH: WHEREAS, the City limits extend east and west of Eagle Road, and north and south of Interstate 84, but prior to this Agreement and construction referred to herein, a portion of such azea was not provided water service by the City; and WHEREAS, the Developer extended a water main west in Magic View Drive, south in Allen Street, and east in Gentry Way, from an existing water main in Magic View Drive, as shown in "Extubit B", which water main extension will be able to provide service east and west of Allen Street and north and south of Gentry Way to the land shown in Exhibit "A" which is attached hereto and by this reference incorporated as if set forth in full; that the Total Service Area is approximately 16.05 acres, of which the Developer Area is approximately 1.65 acres or 10.3 % of the Total Service Area as shown in Exhibit "C" which is attached hereto and by this reference incorporated as if set forth in full. WHEREAS, the water main constructed by the Developer will benefit other land than just the land being developed by Developer; and WHEREAS, the total cost of constructing the water main was born by Developer; that 1 Holiday Inn.l120.AGREEM ENT ~ „ portion of the cost which will benefit land other than Developer's is $36,027.21; whereas with a Late Comer's Area of 14.40 acres 'and with an unpaid balance of $36,027.21 there could be a Late Comers Fee of $2,501.89 plus interest, per acre, and/or portion thereof; that the water main will benefit land owned by the Developer and the benefit to the Developer's land has been reflected in this Agreement; and WHEREAS, Section 9-1-13 of the Water Ordinance provides that the City may enter into water main extension and reimbursement agreements and that section further provides that water users who subsequently connect to the extended water mains shall be charged a water main equivalency fee; said fees aze in addition to the connection and user charges normally assessed a user due to the fact the user has not contributed to the cost of the extended main; the above fee is hereafter referred to as "Late Comer Fee' ;the above ordinance section provides that the late comers fee may be used to reimburse the person or persons so extending the water mains. WHEREAS, pursuant to 9-1-12, the City is required to chazge a Water Construction Equivalency Fee to any person or property owner who has not otherwise paid for, or contributed proportionately toward the costs and expenses of constructing a water line, whether that construction has been performed by the City, a local improvement district or a private entity, or combination thereof, and who subsequently desires to connect to the City water system, shall be required to pay an additional connection chazge which shall be known and referred to as the "Water Construction Equivalency Fee". NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS: The above recitals are contractual and aze incorporated herein as if set forth in full. 2. That the Developer has engineered, planned, and constructed the water main described in Exhibit "B, and which will benefit the land shown in Exhibit "A". 2 Holiday Inn.H2O-AGREEMENT * ~ 3. The Developer has contributed $36,027.21 in construction costs for that portion and size of the above main, which represents land that could be served that is not included in Developers land 4. That for all development of the land descn'bed in Exlubit "A", except the land owned by the Developer, the City will charge the sum of $2,501.89 plus interest, per acre, and/or portion thereof as shown on Table II of Exhibit "C"; such users shall hereafter be referred to as "LATE COMERS"; that the charge is the water construction equivalency fee authorized in 9-1-12 and established by this Agreement, which fee shall herein be referred to as "LATE COMERS FEE"; the fee is in addition to any other water charges for connection to the water system; the computation of the Late Comers Fee is shown on Exhibit "C" attached hereto and by this reference incorporated herein. 5. That all the late comer fees assessed above in paragraph 4. shall be set aside and deposited to a special account to be designated the "OM NAMAH LAXIVQ, L.C. WATER PROJECT REIMBURSEMENT ACCOUNT" shall reflect merest at a rate of 4% to be accrued on the unpaid balance once a year at the City's Fiscal Year End, 9/30 each year for the term of the agreement and shall be distributed quarterly to the Developer. 6. That the late comer fees which go into the "OM NAMAH LAXMI, L.C. WATER PROJECT REIMBURSEMENT ACCOUNT", shall increase at a rate of 4% per annum as shown in table III of Exhibit "C". 7. That the late comer fees shall be collected by the City from all users subsequently connecting to the main in Exhibit "B" for parcels of land described in Exhibit "A", except the land owned by the Developer. 8. That the City shall charge the "OM NAMAH LAXMI, L.C. WATER PROJECT 3 Holiday Ino.H2O-AGREEMENT REIMBURSEMENT ACCOUNT" 10% administrative charge as authorized under 9-1-13A4. 9. That the City shall have prepared on an annual basis an audit of all funds collected pursuant to this Agreement, which audit shall coincide with the general audit of the City; that the cost of this audit shall be paid by the City as part of its administrative costs. 10. It is agreed that the water main referenced in Exhibit "B" is the property of the City and shall henceforth be maintained by the City at its sole cost and expense. 11. The term of this Agreement shall be urrtil Developer has been reimbursed the principal sum of $36,027.21p1us interest, as determined in Paragraph 6, less the 10% administrative fee, or, if this is not achieved, for a period often (10) years. If the Developer has not been reimbursed the principal sum plus interest less administrative fees after ten (10) years from the date of this Agreement, the Agreement may be extended by mutual Agreement of the City and the Developer, at such time as the City ordinance al~ws for extension of a ten year time frame. If the City does not amend this ordinance, then this agreement shall have a ten yeaz life span. I2. This Agreement shall be binding on the assigns and successors of the parties hereto. DATED this25~day of ~~-~- , 2001. 4 Holiday Inn.H20-AGREEMENT w CITY OF MERIDIAN ~~ ~~~~~ ~~` `~~ err ~'~" r'a't • , c RO RT D. CORRIE, MAYOR WILLIAM G. BERG, JR.; CITY CLERK F; ~ coup ~;,~ Ap p rrrv{~ 7f o ~~ o ~ OM NAMAH LAXMI, L.C. By; ti atel, Member By; 5 Bhark Patel, Member Holiday lnn.H20-AGREEMENT STATE OF IDAHO,) County of Ada, ss. On this .S~day of J~~N , 2001, before me, the undersigned, a Notary Public in and for said State, personally appeared ROBERT D. CORRIE and WILLIAM G. BERG, JR., known to me to be the Mayor and City Clerk of the City of Meridian, Idaho, and who executed the within instrument, and acknowledged to me that the City of Meridian executed the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year first above written. `R~`~ 1CB L S~ ~~'• w ..wio ?f •• ~ Q,. ~~. or. ~' •i j ~ ~'' ~ r• o• ~ •, • ~ - SEAL : * i ~•~ ; * : NO'S 'PUBLIC FOR IDAHO • ~ ~°UB L1G ~ RESIDING AT CY,' ' •••••,N:y~B .....~'~.S-~,°°°~, MY ~MMISSION EXPIRES o 07 .,•~~~OP ~ '~~~~~ STATE OF IDAHO,) County of Ada, ss. On this~j~day of , 2001, before me,~undersi ed, a Notary Public in and for said State, personally ap ~d ,and ,known to me to be the Members of, OM NAMAH LAXMI, L.C., and who executed the within instrument on behalf of said corporation, and acknowledged to me that said corporation executed the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year first above written. ,~...~..o,,, e~~°°°~~1~~ oseeG~~~~!~~s SEAL *• ~~.• TA 0~• ~~ _ ~,,0 R ~' d o POgL1G : •° c~.~. C ~~ C_.-~ ` NOTARY PUBLI FOR IDAHO RESIDING A~~i,.sY~i~ i MY COMMISSION EXPIRES ~~ ~ ~ -~~ 6 Holiday fm.H2O-AGREEMENT _.. r ~~~ _-_~ ~~ ~ ^~ .~ W y O ~ H ~ ~ W ~ = W _ _ ~- A ~ ~ ~ ~ i ~- as 0 _ ~ ,r ~ ,* "EXHIBIT C" HOLIDAY INN EXPRESS - OM NAMAH LAXMI LC WATER MAIN EXTENSION LATE COMER'S AGREEMENT FEE COMPUTATIONS AREA DETERNIINATION: DEVELOPER'S AREA PARCEL NUMBER ZONE ACREAGE % OF TOTAL 85443010133 (Map Reference ID# 9) C-G 1.65 10.3 Table 1 LATE COMER'S AREA PARCEL NUMBER 7.nNF ACRF.A('iF %, nF T(1TAT. 85702910040 (Map Reference ID# 1) C-G 0.56 3.5 85702910050 (Map Reference ID# 2) C-G 0.49 3.1 85702910020 (Map Reference ID# 3) C-G 0.70 4.4 85702910010 (Map Reference ID# 4) C-G 2.60 16.2 85443010154 (Map Reference ID# 5) C-G 4.22 26.3 85443010114 Portion (Map Reference ID# 6) C-G 2.05 12.8 85443010125 (Map Reference ID# 7) C-G 1.77 11.0 85443010128 (Map Reference ID# 8) C-G 2.01 12.5 TOTALS 14.40 fable Il (Developer's Area Total + Late Comer's Area Total =Total Service Area) 1.65 Acres + 14.40 Acres = 16.05 Acres DEVELOPER'S CONTRIBUTION: $40,164.11 Verified from Billings PORTION OF DEVELOPER'S CONTRIBUTION ELIGIBLE FOR REIMBURSEMENT (Developer's Contribution -Developer's Percentage of Total Area =Eligible Reimbursement) $40,164.11 - 10.3 % ($4,136.90) _ $36,027.21 Page 1 ~. ~ LATE COMER FORMULA: (Eligible Reimbursement /Late Comer's Service Area =Late Comer Fee) $36,027.21 / 14.40 Acres = $ 2,501.89 per Acre REIMBURSEMENT SCHEDULE: The Developer paid the costs of installing the water line. The Latecomer Fee paid by each parcel, or portion thereof; who connects to the subject water line will be paid per the above agreement. The fees assessed to each latecomer shall be adjusted annually on October 1st. At an annual percentage rate of 4%. The latecomer fees shall be as follows: Effective Date Latecomer Fee per acre October 1, 1999 $ 2,501.89 October 1, 2000 $ 2,601.97 ~ October 1, 2001 $ 2,706.05 October 1, 2002 $ 2,814.29 October 1, 2003 $ 2,926.86 October 1, 2004 $ 3,043.93 October 1, 2005 $ 3,165.69 October 1, 2006 $ 3,292.32 October 1, 2007 $ 3,424.01 October 1, 2008 $ 3,560.97 Table lIl Page 2 .~ ;i ~y ~. ~, I~ ~ / ~~ ,~' crrv of ~!~!~~ r, ~. ~'l~l ~Y1G~1~17 . ~ ,`~ w In~~HO y ec //~ FNTF. Y / R ~a` rREASURE V~'~ SINCE 1903 MAYOR Tammy de Weerd CITY COUNCIL MEMBERS Keith Bird Joseph W. Borton Charles M. Rountree Shaun Wardle CITY DEPARTMENTS City Attorney/HIZ 703 Main Street 898-5506 (City Attorney) 898-5503 (HIZ) Fax 884-8723 Fire 540 E. Franklin Road 888-1234 /fax 895-0390 Parks & Recreation. 1l. W. Bower Street 888-3579 /fax 898-5501 Planning 660 E, Watertower Lane Suite 202 884-5533/fax 888-6844 Police 1401 E. Watertower Lane 888-6678/fax 846-7366 Public Works 660 E. Watertower Lane Suite 200 898-5500/fax 895-9551 - Building 660 E. Watertower Lane Suite 1.50 887-2211 /fax 887-1297 - Wastewater 3401 N. Ten Mile Road 888-2191 /fax 884-0744 - Water 2235 N.W. 8th Street 888-5242/fax 884-1159 ADA COUNTY RECORDER J. DAVID NAVARRO AMOUNT .00 ' BOISE IDAHO 0310910fi 02:08 PM DEPUTY Neava Haney II I IIII IIIIIIIII IIIIIIIIIIIIII II II III RECORDED-REQUEST OF 106036625 Meridian City RELEASE OF AGREEMENT WATER LATECOMERS AGREEMENT HOLIDAY INN EXPRESS Agreement between CITY OF MERIDIAN OM NAMAH LAXIVII, L.C.. The agreement entered into June 25, 2001 by and between the CITY of ~, MERIDIAN, a municipal corporation of the State of Idaho, and Orr~~d" ~ `~ t ~ 111 "7~ ,rr Laxmi, L.C. has been satisfied b the Cit of Meridian. We re "~, ;,'~f ''°~f the agreement recorded 7/19/2001 under your instrument numbler ~ ~~. ~ "" }' .. . i~ _ I~ Y William G. Berg, Jr. - tty e>>r ~ z;~~ ;~ STATE OF IDAHO ) ~'~frret, t~at;y'~~a. SS County of Ada ) On this lD~"' day of tYZar~h , 2006, before me, a Notary Public, personally appeared William G. Berg, Jr., know or identified to me to be the City Clerk, respectively, of the City of Meridian, who executed the instrument or the person that executed the instrument of behalf of said City, and acknowledged to me that such City executed the same. (SEAL) ~;- ~ ~i • ,tie; pTA~p~,;,,.'G. ; j i ~ ~ • ~ ; ~ • ~ , , • 1 • s E ~ • ~ ` i ~ i ~~, • otary Public for Idaho Residing at: CQ.,«~Q ~,) ~ I'p Commission expires: IQ-t (- I I CITY HALL 33 EAST IDAHO AVENUE MERIDIAN, IDAHO 83642 -(208) 888-4433 CITY CLERK -FAX 888-4218 FINANCE & UTILITY BILLING -FAX 887-4813 MAYOR'S OFFICE -FAX 884-8119 Printed on recycled paper