§ 62-362. TIF credit.

(a)

Wastewater utility customers whose premises are served by the utility and are located within the city limits shall receive a credit applied towards their monthly sewer bill in recognition of the portion of the principal and interest on wastewater utility bonds paid by the city from TIF revenues.

(b)

The monthly credit shall be as follows:

(1)

Flow rate credit: $0.232 per 100 cubic feet

(2)

Base rate credit:

Meter Size	Equivalency Factors	Monthly Credit
Residential	1.0	$10.00
5/8 "	1.0	10.00
1"	2.5	25.00
1¼"	4.0	40.00
1½"	5.8	58.00
2"	10.0	100.00
3"	23.0	230.00
4"	41.0	410.00
6"	92.0	920.00
8"	164.0	1,640.00
10"	256.0	2,560.00

 

(c)

Single-family residential properties serviced by a water meter smaller than one and one-quarter inches shall receive a base charge TIF credit based on a meter equivalency factor of one.

(d)

The TIF credit shall be in effect upon passage of the amending rate ordinance.

(Ord. No. 5265, § 2, 8-2-2010; Ord. No. 5568 , § 1, 3-6-2017)