How is this water line expansion in Home Place supposed to work?

A: After the annexation of Home Place, the City of Carmel is beginning to make improvements in infrastructure, especially in areas that have never had city water in the past. Here are some questions and answers about the project.

Q: If someone decides they want to hook up to city water, how does that work? Is it done on an individual basis?
A: Each homeowner can decide if they want to hook up. Their decision is not dependent on what others on the street or sub-division choose to do.

Q: If someone decides to go ahead and hook up to city water, how much does that cost? How long do they have to pay for it?
A: For the Home Place area the cost payable to Carmel Utilities is $8,300. They will have up to 30 years to pay for it. The interest rate is 2.32%.

Q: How much of the $17M (estimated cost of the project) does the city expect to recoup through water hookup fees? Will it recoup any of it in other ways?
A: The Utility will repay the bonds with a combination of the fees paid by homeowners that will connect to the new water lines. water connection fees from new development and monthly water bills for water consumption.

Q: In the list of projects, it includes Home Place, West Side and College Avenue water installation separately. Where specifically is the College Ave installation? Is that not in Home Place?
A: The College Avenue water line project is in Home Place, but it is separate from the project that is providing water to customers that currently do not have access to water. The existing water main on College is owned by Citizens Water. Carmel Utilities needs to install a new main that will serve future growth in Home Place and in the 96th Street and College area.