A unanimous vote is all it took to make water and sewer capital connection fees, tap fees, and meter fees, a little more feasible as far as interest rates go for both homeowners and businesses.
The township’s ordinance originally said the capital, tap and meter fees could be spread out up to 10 years, but at an eight percent interest rate.
Now the percentage rate will be based upon whatever the current rate is set by the International Revenue Service, which changes month to month.
Treasurer Curt Carson said the current rate for June is around 2.32 percent.
‘Somebody can come in and they can have it prorated up to 10 years and were looking to have it done on quarterly basis, so when there water bill goes out or their sewer bill goes out they’re charged for that quarter the amortization will be on there,? he said.
‘We made it much more convenient for somebody to amortize it over time and at a lower rate, that should help the businesses.?
Part of the reason for making the change was upon the request of the planning commission and Dixie Highway revitalization group, who asked for some sort of incentives to bring businesses into township to fill up the empty buildings.
‘Since we talked about lowering rates, that kind of didn’t go anywhere and I think the percentage rate that we’re charging on some of these fees any amortization is the next good step to take to try and work on the revitalization of some of these areas,? said Planning Commissioner Ron Ritchie.