This week the Cape Coral City Council approved rates for the Utilities Expansion Project for the North 1 East section of the city. The estimated total cost of the project is $227.5 million.
Here’s a breakdown of the $227.5 million:
Covering over 34 miles, this Utilities Expansion Project is in the eastern part of the city. The project extends water and sewer into a developing area and is conducted in phases. The project is funded through assessments on property owners. The North 1 East area will impact approximately 3,500 parcels of property. The majority of those parcels are about 10,000 square feet.
The total assessment per parcel will be $32,287. That cost includes a septic-to-sewer grant the city has already been awarded and it’s about $1,000 cheaper than the North 1 West assessment. Here’s a breakdown of the North 1 East charges:
Those charges do not include plumber connection costs (approximately $3,000), a DOH permit for septic abandonment ($100), water meter purchase and install ($325) and an account deposit ($225).
The city covers the cost through bonds which is repaid by assessments and water and sewer fees. Property owners can pay the bill in full or they can have the assessment financed annually on their tax bill. Property owners can finance the assessments out over 20, 25 or 30 years with the first payment due in November of 2026. There’s in no penalty for paying the bill off early. Anyone who finances out over 20 years will pay just under $4,000 per year. Financing over 30 years will cost about $3,385 per year.
You are missing an important point. $42.3 Million of the $227.5 Million North 1 East Expansion is being funded by all users of the water/sewer system by rate increases. Look at page 14 of the city brief. $42.3 M – Utilities Fees. Not sure the residents know they are helping pay for this expansion as well as those in the UEP.
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