Well it looks like Unicorp, the developer of West Broad Village, has reached an agreement with Henrico County on how their tap fees are to be calculated. Under the agreement, Unicorp will pay Henrico County $983,000 for the three connections that are already in place. They will then take the balance of the payment due (+/- $2.517 million) and amortize it out over 36 years at an interest rate of Prime + 1%. Seems like this might be a win-win for everyone. Henrico County gets the tap fees that they are rightfully due and Unicorp gets to spread out their payments.
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