This agreement is between 1940 East President Street LLC and the City for the development of the 1940 East President Street property, the annexation of the 1940 property into the City (Aldermanic District 3), and the developer's desire to connect and use the City’s water and sewer systems to serve the property consisting of 41.05 equivalent residential units (ERUs). The City water and sewer systems have adequate capacity to service this development. The agreement provides that upon completion of the systems and all related facilities including water and sewage facilities, the Water & Sewer Connection Fee totaling $151,315.50 will be fully paid for by the Developer. All construction, engineering, and inspection costs, along with acquisition of all required easements, in connection with these systems shall be borne by the Developer.

Approval