02/16/2023 SEWER COMMISSION Minutes

Home Browse Search

This assessment will be applied in the form of liens against the property, not the individual. He explained that the assessment is estimated and the final assessment will be when the project is done. The Final Betterment cannot exceed the estimated value. Once the value is established this evening it cannot go up. The assessment will be repaid through the property tax bills likely beginning in 2025. The Policy that the Commission voted in October 2022 established a uniform unit method which is known as a Sewer Equivalent Unit (SEU). Each Condominium Unit at Sea Oaks is assessed 1 SEU. The total estimated cost on the Sea Oaks Property is $690,000. For the collection system only. This figure is then divided by the number of units. The apportionment is a 70 – 30 split. Meaning the Town will be paying 30% of the total estimated cost and the unit owners will pay 70%. The loan term will be 30 years with 0% interest. The Betterment Assessment will be $4,351.35 total per unit. The Annual Cost will be $145.05 per unit each year for 30 years. 3. Discuss/Vote Betterment Order of Assessment. Mr. Lyons made a motion to approve the Order for Betterment Assessments for construction of Improvements to Sea Oaks Condominium of Mashpee in the amount of $690,000 under the Uniform Unit Method of Sewer Equivalent Units to be apportioned at 70% (residents) and 30% (Town of Mashpee) over a term of 30 years at 0% interest per attached Schedule A. Catherine Castaneda seconded the motion. Motion passed by unanimous consent. Correspondence: None at this time. Other items not reasonably anticipated by the Chair: None at this time. Mr. Lyons made a motion to adjourn the meeting. Catherine Castaneda seconded the motion. Motion was passed by unanimous consent Meeting adjourned at 7:15PM Respectfully Submitted, Susan Donovan Board Secretary 3