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� r � <br />TO: BOARD OF COUNTY COMMISS NE S DATE: NOVEMBER 21, 1986 <br />THRU: TERRANCE G. PINT /7ely <br />DIRECTOR OF UTILITY SERVICES <br />FROM: LISA M. ABERNETHY <br />FRANCHISE MANAGE !!'' <br />SUBJECT: EXPANSION OF FRANCHISE TERRITORY AND CHANGE OF OWNERSHIP FOR <br />RIVERWALK UTILITIES, INCORPORATED <br />On February 6, 1985, Riverwalk Utilities, Incorporated, was granted a <br />water and wastewater system franchise, Resolution 85-17. Since that <br />time, Riverwalk Associates has operated' Riverwalk Utilities in an <br />efficient and economical manner. <br />At this time, Riverwalk Associates has requested that the Board of <br />County Commissioners consider the following items: <br />A. Watkins Associated Developers, Inc., has developed the 12.5 <br />acre franchise to its fullest potential. Riverwalk Associates, <br />Inc., has requested an expansion of approximately 5.32 acres, <br />south of the existing territory. This expansion will be divided <br />into five tracts. Tract A, (see attached map) will be dedicated <br />to the wastewater effluent disposal and the remaining four tracts <br />will be utilized for restaurants and other commercial use. <br />Consequently, the expansion of territory demands expansion of the <br />water and wastewater facilities. <br />B. Riverwalk Associates, Inc., is currently negotiating to sell <br />the Riverwalk Utility franchise to the applicant, Sebastian <br />Associates. The applicant is negotiating the purchase of the <br />Riverwalk Shopping Center and 100% of the Riverwalk Utilities, <br />Inc., stock. The applicant certifies that it is acting in good <br />faith and has means and intent to build, install, and operate the <br />existing Riverwalk Utilities system and the expanded system <br />necessitated by the expansion of the franchise territory. The <br />name of the utility will remain the same. <br />RECOMMENDATION <br />Utility Staff's Recommendation For Item A• <br />Utility staff has reviewed Riverwalk Utilities, Inc., franchise and <br />requests that the expansion of franchise territory be contingent upon <br />the posting of a bond by Riverwalk Associates, Inc., to cover all <br />estimated construction costs necessitated by the expansion of the <br />franchise territory. It is expressly understood by the applicant that <br />all construction associated with the plant expansion be completed <br />within twelve months after the bond is posted. When construction is <br />completed and prior to the bond being released, the County Utility <br />Department will issue a permit for operation to Riverwalk Utilities, <br />Inc. Staff also asks that no Building Permits be issued until all <br />escrow impact fees for Phase II are paid. All other escrow impact <br />fees have been satisfied. <br />Utility Staff's Recommendation For Item B• <br />Utility staff has reviewed the request of Sebastian Associates for the <br />change of ownership in the Riverwalk Utilities franchise. Copies of <br />the applicant's, Mr. James H. Nobil, personal financial statements are <br />attached hereto. Utility staff has reviewed the financial statements <br />C. 6 <br />41 <br />Bm 66 Frac-565 <br />