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Town of Falmouth Comprehensive Wastewater Management <br /> Planning Pro)ect <br /> Addendum <br /> MME=ilm: <br /> Falmouth Sewer-Better meat Payments <br /> 2.5% Interest Rate with Fixed Annual Payments <br /> Term of $30,000 Betterment Option $20,000 Betterment Option <br /> Betterment* Annual Cost to Homeowner Annual Cost to Homeowner <br /> 50 Years $1058 $705 <br /> 40 Years $1195 $797 <br /> 30 Years $1433 $956 <br /> 20 Years $1925 $1283 <br /> *A "betterment"is charge levied by the municipal government on properties that <br /> receive a direct benefit froma capital improvement such as a road, water main or <br /> a sewer main. The charge can be spread over many years. <br /> This table shows different terms for two betterment principal amounts at a fixed <br /> interest rate of 2.5%. The Board of Selectmen could select whichever term and <br /> whichever annual payment is deemed appropriate at the time of commitment of <br /> the betterment assessment. <br /> Unlike conventional financing, this model does not propose increased interest <br /> rates for the longer betterment assessment term. The result provides a substantial <br /> savings to that property owner. <br />