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• <br /> J.Jermanis 1/27/2000 <br /> FISCAL IMPACT <br /> • If the proposed franchise is approved, the City will receive a one-time payment of$700,000 upon <br /> the execution of the franchise agreement. <br /> • The City will receive $2.5 Million over 15 years at 7% interest starting on February 1, 2001, <br /> which will be used to repay the General Fund its outstanding loans to the Refuse Enterprise <br /> Fund. This revenue will be available for capital improvements or other programs as approved by <br /> the City Council. <br /> • The City's Refuse Enterprise Fund's annual operating deficit will be eliminated. <br /> • The City will continue to receive a 10% franchise fee, business license tax, and tonnage franchise <br /> fee. <br /> CONCLUSION <br /> • It is strongly recommended that the City Council approve the proposed franchise agreement at <br /> the January 31, 2000, City Council meeting. <br />