C153773 Feasibility Study - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I I I 3. Develop other Mount Carbon commercial area east of the Hogback 4. Expand industrial and commercial development south of Town near The Fort restaurant. 5. Provide water service to Red Rocks All1phitheater Park. 6. Develop Peterson Ranch and the Banclimere property east of the Hogback. Funding of capital water system improvements is primarily accomplished through system development fees charged to new customers. Therefore, to fund construction of the improvements recommended in this master plan, growth within Morrison will have to occur. Morrison adopted a tap fee schedule on February 6, 1996 to set the Water System Development Fee at $5,500 per EQR. At this rate, 182 equiValent new taps would be required to generate 1.0 million dollars in revenue. Therefore, Morriso1') will have to at least double in size to fund even the first stages of capital improvements neceSsary to provide water to the Cooley Reservoir. The above prioritized list of development best fits the needs of the Town; however, given Morrison's need for funding, to some extent water will be fumished first in areas where developers can provide the Town with monE:!y through pre-paid water taps. Preference is extended to the first three areas of development on the prioritized list. Development of commercial property is the highest priority sinC:e it quickly generates revenue from tap fees, and also provides additional sales tax revenue to Morrison. Development to the south of Morrison is a lower priority, since costly water system capital improvements will be necessary to supply water to this upper zone (and development will have to pay its own way). Agreement to Serve Cooley Property The Cooley property south of Morrison consists of 585 acres, of which 400 acres are zoned Industrial (PUD-1) and 185 acres are zoned Agricultural (A). The Agreement(18) dated October 31, 1994 states that Cooley shall not apply for water service until the construction of the Cooley Reservoir, and that connection to Morrison's water service shall be at the prevailing fees and rates. By the Agreement, no development will occur on the 185 acres until Morrison determines that adequate water service is available. Prior to any development, Cooley shall perfect and convey to Morrison water rights providing legally and physically available water to meet Cooley's needs. For water service to the PUD-1 area, Cooley shall be responsible for payment of construction of all on-site and off-site facilities and lines necessary to provide water service. Morrison is only obligated to provide three 3/4-inch service taps for industrial water use. Morrison has the right, until the year 2004, to designate and require Cooley to dedicate to Morrison a water storage tank site and/or a water treatment plant site at the northeast corner of the Cooley property. 7Q..OSO.035:MSTR-PLN 111-4