Residents who wish to hook up to the Oxford Township water system will now have three years to pay off the rather hefty tap fee thanks to an ordinance amendment approved by officials last week.
‘We’ve had different inquiries from people who are already along the water line and may be interested,? said Treasurer Joe Ferrari. ‘Some (people) have approached us asking if they could pay a portion (now) and a portion next year. That wasn’t an option before.?
Board members felt forcing people to pay the township’s $6,075 connection charge ‘all at once might be burdensome,? according to Ferrari.
Under the new ordinance language, residents can pay one-third of the tap fee upon obtaining a permit to connect to the system.
The remaining two-thirds must be paid in equal annual installments over the subsequent two-year period.
An interest rate of one percent over prime at the time the connection permit is obtained will be charged.
‘The only prerequisite is it’s got to be an existing home and it has to be your homestead (i.e. primary residence),? Ferrari said.
Three-year installment plans are not available to any new residential, commercial or industrial construction, according to the new language.
A five-year installment plan was already on the books, however, but that option is only available to low-income residents who meet certain criteria.