In recognition of the severe housing market downturn and current economic situation, the EMWD Board of Directors has allowed a dely in the implementation of new Financial Participation Charges as follows:
Effective July 5, 2008, Eastern Municipal Water District (EMWD) adopted new Financial Participation Charges. The Board allowed for a buy-in program for which an allocation of 2,400 Sewer Equivalent Dwelling Units (EDUs) will be honored under the previous in effect Financial Participation Charges or will be in effect until July 5, 2010, whichever comes first, at which point the buy-in program will no longer be in effect and implementation of the new Financial Participation Charges will begin. Lots honored under this buy-in program must also be released for occupancy by EMWD on or before July 5, 2010.
Charges quoted will be based under current availability of the 2,400 EDU buy-in program, and are not guaranteed to be in effect at the time of payment. Non-availability or failure to obtain EMWD occupancy release on or before July 5, 2010 will require adjustment to reflect the then per unit amount applicable, based on the then-in-effect Financial Participation Charges. Payment of adjusted amount will be required prior to the District’s acceptance of the facilities and provisions of service to the involved unit(s).
July 5, 2008 EMWD Board adopted Financial Participation Charges will be implemented only after 2,400 new units have been bought at the current rates. All classes of development will count against the 2,400 unit allocation.
