Fiscal Plan for Cornerstone L.P. Annexation Area in German Township

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Cornerstone LP Annexation Area The net increase in property taxes will be $6.8172 per $100.00 of assessed valuation. Table 2 shows representative tax rate information as published by the St. Joseph County Auditor. I. Assessments Net Assessment 1997 payable 1998, St. Joseph County Auditor property tax records: Net Assessment: $4,200 J. Councilmanic District The Annexation Area will be in Councilmanic District 1. K. Hiring Plan It is anticipated that this annexation will not result in the elimination of jobs for employees of any other governmental entities. The German Township Trustee has been notified of this annexation. SECTION III. MUNICIPAL SERVICES A. Public Works Sewer - An existing 24 -inch sanitary sewer is located in Ardmore Trail. An 8 -inch sewer extension would be required, running approximately 2,160 feet in Sundown Road, and 600 feet in Edison Road. The extension can be accomplished at a cost of $162,426.00 Storm Sewer - All storm water is to be retained on site. Water - An 8 -inch water main extension of approximately 2,700 feet in Edison Road would be needed to service the Annexation Area. This can be accomplished at a cost of $ 64,000.00. This cost can be shared with the proposed Herrman & Goetz Annexation Area. No waivers for water or sewer exist on file. It is noted that easements may need to be acquired for the sewer and water. Sanitary sewer and water facilities have the capacity to serve the Annexation Area. Public improvements within the Annexation Area, such as street lights, roads, curbs and sidewalks, should be at the expense of the developer. Improvements will be able to be maintained without additional expense. Extensions of, or taps into sanitary sewer and water lines shall be governed by I.C. 36- 9 -22 -2, I.C. 8 -1.5 -3 and 4, and the rules and regulations of the South Bend Water Works and Sewer Utility.