HomeMy WebLinkAbout1978 08 01 Regular
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WINTER SPRINGS DEVELOPMENT CORP.
Suite 501, 2699 Lee Road
Winter Park. Fla. 32789
(305) 628-0200
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August 1. 1978
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Mr. Richard Rozansky
CityPl anner
City of Winter Springs
Winter Springs, Fl 32707
Dear ~'r. Rozans ky:
ThiswUr acknowledge receipt of your letter dated July 21. 1978 to
Semin91eUtilit.y COlllpany and Winter Springs Development Corporation.
There isa great deal of informationgennane to the' contraction and
its affect OR Winter Springs Development Corporati'on" Your letter
was recefved on July 25, and we have had less than seven working days
to cons.ider the impact on a multi-million donar investment.
Answers to questions 'in your letter relating to Seminole Utility are
more readily available. In response to your questions:
a. Should the area re~ain at its present density, which is
highly unlikely, the City will lo.se approximately $2,068.00
in annual franchise fees. The figure is computed on 3% of
the. annual sewer and \'later billing of Seminole Utility
Company. For projection purposes" an annual projection
figure, of $4. 08 per service connect iO,n may be. used.
The Utility Tax is based on 4% of the Water Revenue of
Seminole Utility CompahY. Based on current density, the
tax would generate approximately $1,957.00 of annual revenue.
For application to projected growth, the amount of $3.87
per service connectioni may be used" .
c. This question win re~ire additional research before it can
be answered. For exa~ple~ question~ such as Seminole Utility
Company payment of $3,225.00 on March 23, 1977 to participate
in the 201 project in which .the City of Winter Springs entered
into an inter-local agreement'to participate ;n a,201 federal
grant application.
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.. Mr" Ri~hArd Rozansky
." ... August 111 1978
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c i.. The ques~ionof contraction and its affect on Winter Springs Development
"r!v1;oTtlOrat.i1l" a~ ~Ell)lno 1~ .UtiHtyCompany is a comp1 exprob 1 Ell) that will
'. 'H'eflUi~!;ll,reflll ",search analysis and study. A feasiMllty study of this
. ~~i~!;ll,nnot be.ccomp1ishl!<l in a matter of a few days. The adequate
dl!ternri~tion ~i'the~lex problems. many of which wlll ~uire dealing
. '"it1l~ oI>ta1.l'ing all$wers from governmental agencies. legal analysis of
. Cl!"tr.~s;l'~l:Ontracj;ual",latiOtlShiPS. the atti tude of governmental
al!el'lcies.a"'..rYPi!;ll,l of the types of s.ituations that must be analyzed
. and answers obtained to.
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1 T.. he platting of a 40..acre subdivision within an existing Planned Unit
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.' oe.,.Opnlellt '.11 T'IIsca'" 1a. requwes a t ree to our I1lPnt renew t,me
'1' tly~tityof llinter Springs. It W9u1d appear that the proposed contrac-
>"...tionof3~400acres .,.'Ould at least merit that amount of consideration in
~erthatt.he damages to nnter Springs Development corporation could be
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winter Springs Development Corporation as part of a public corporation,
'has a fiduciaryresponsibllity to protect the assets of that corporation
and any actions that would affect the value of that investment will force
lls.to .lIave.ret<M'se.toth~ courts against any municipalities. the officials
ofthatmun'jcipality, individuals, or groups of individuals who would damage.
or. impairthatjnvestment.
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Very truly yours,
WINTER SPRINGS DEVELOPMENT CORPORATION
aftflv~
A. E. Blair
Vice President of Finance
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