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What will the sewer system cost?
Based on the June 2008 engineering report, the projected cost
is $19,481 per “improved” lot.
This cost includes the estimated cost of constructing the
system based on anticipated costs 18 months from June, 2008. This 18-month
period is the estimated time before construction could begin on the sewer system
around the lakes.
Property owners will have the option of paying $19,481 in full at
the time of hook-up to the system OR the option of paying over time (20-40
years).
Annual Costs
Annual costs for property owners who choose to
pay over time will range from $947.92 to $1,497.59, depending on the type of
financing available to the townships.
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Based on USDA Rural Development financing at 3.75%, the total annual
payment would be $947.92 for 40 years.
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Based on State of Michigan Revolving Loan Fund financing at
2.5%, the total annual payment would be $1,249.62
for 20 years.
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Based on conventional bond financing at 4.5%, the total annual
payment would be $1,497.59 for 20 years.
Monthly Costs
$38.45 -- Monthly fee
for sewage treatment and maintenance of the collection system.
Click
here to review
the estimated annual operating and maintenance budget for the system
One-Time
Cost
$2,000 -- Estimated
average one-time cost to abandon old septic system and hook-up to the
new sewer system.
The actual costs may be lower than the amount which is being
requested for approval.
Click here to review the estimated costs of the
sewer system.
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Hess Lake-Brooks Lake Sewer Project
