Thursday, 24 July 2014 00:00
As it was proven that the contamination was the runoff from the North Colony cesspools, an equitable and practical solution would be for the city to take advantage of the current low interest rate and take a 10-year bond to pay for the cost of building a pumping station and installing sewers in the North Colony. The annual interest and amortization cost of the bond should be prorated amongst the North Colony properties. The economic benefit of the sewers to them is four fold, namely:
1. It saves the property owners the cost of their cesspool maintenance.
2. As such, it increases the value of their houses, as most buyers certainly find a city sewer serviced house more desirable than one with a cesspool, especially in an area prone to cesspool problems.
3. They would again have a usable private beach.
4. The city is not subsidizing costs to a private property development.
Should the storm water runoff from Crescent Beach Road, the storm sewers thereon could be connected to the North Colony pumping station and the additional associated costs charged to the city’s general fund. I’m sure so many of us who used the public area of Crescent Beach would not mind the minimal tax increase in the city tax rate.
Carl L. Todd, ASA, CPCU, IAAO, SRWA (retired)
Formerly a member of: Glen Cove’s CDA, IDA, Planning Board and was the City Assessor