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11/9/2010 <br /> • <br /> Proposed Process <br /> City will notify affected property owners of the <br /> planned abandonment of the sewer main and that <br /> their existing laterals must be relocated. <br /> 1. Within 45 days: <br /> — the property owner provides information regarding <br /> the existing structure's plumbing and signs a <br /> maintenance lateral agreement <br /> — then City will construct the lower lateral at no cost to <br /> the property owner <br /> 2. After 45 days: <br /> — the offer from the City expires and property owners <br /> will be responsible to construct the lower lateral at <br /> their cost <br /> Proposed Process <br /> If the property owner constructs upper or <br /> upper /lower lateral and connects to the new main <br /> line; the City will provide a loan to the property <br /> owner equal to the amount of the construction <br /> under one of the following options: <br /> 1. A fixed number of years at an interest rate equal <br /> to what the City receives on its investments <br /> 2. Loan plus accrued interest due at the time of <br /> sale, transfer or other disposition of the <br /> property <br /> 5 <br />