HUTCHINSON, Kan. — After a petition was signed by the right number of people, the Hutchinson City Council will consider waterline improvements in the Spyglass Hills area.
According to agenda documents, the cost estimate for those improvements is $480,000.
The City will contribute $100,000 to the overall cost and pay $49,061 for valves and hydrants, as outlined in their special assessments policy. The remainder of the costs will be assessed to the property owners.
The properties will be considered part of a special assessment improvement district. The division of the costs will be allocated based on shares, with lots being assigned one or two shares. This was mutually agreed upon by the property owners.
After the project, the property owners will have a chance to reimburse their share of the improvements, or it can be assessed to their property over 20 years.
The city may use a temporary note to finance the project until completion. Then the city will bond the cost of the improvements and use the payments from the homeowners to pay the bond payments.
The Hutchinson City Council meets Tuesday at 9 a.m. at City Hall.