A. Amount Of Water Right: As a condition of approval of a building permit for a dwelling or other use which proposes to obtain water service from the city water system, the applicant shall convey to the city title to water rights in the amount shown in the water rights table in the "Elk Ridge City Development And Construction Standards Manual". The exact amount required varies with the size of the lot or if the intended use will require more than the amount shown on the table. In the special case of large common areas in a development or commercial developments, the city may require the conveyance of additional water rights to accommodate the anticipated additional demand for water. In no case shall less than one acre-foot for each dwelling be conveyed to the city.
B. Prior Approved Lots: Where an application for building permit is requested for construction on a lot for which water rights have been previously conveyed, the amount of water rights previously conveyed shall be construed as a credit toward satisfaction of the water rights conveyance requirement required pursuant to this section.
C. Type Of Water Rights: The water rights proposed for conveyance to the city shall: 1) be of a type which is capable of ready conversion for municipal purposes from an existing city supply source (i.e., domestic well, natural flow right); 2) have received approval by the state engineer of a change application permitting the use of the water for municipal sources; and 3) the owner thereof shall have executed a warranty deed and certificate of title search to the city providing for the actual conveyance of the water right to the city at the time of final plat approval.
D. Water Rights Conveyance Classified As Project Improvement: For purposes of compliance with the terms of the Utah impact fee act, the conveyance of the water right shall be construed as a project improvement.
E. Acceptance Of Cash In Lieu Of Water Rights: The city may at its discretion, accept cash in lieu of water rights at any time, based on competent engineering advice, and the city has deeded water rights in its name properly permitted for municipal use, in excess of the quantity required to meet the "peak day demand and average yearly demand" of the current connections plus platted lots, as defined in the Utah administrative code R309-510-7. The amount of cash in lieu shall be based on the water quantity per lot shown in the water rights table in the "Elk Ridge City Development And Construction Standards Manual", or as determined under special case calculations, multiplied by the current fair market value of the water right. Fair market value shall be set by the city council after periodic review and shall be based on comparable market values of water rights of similar type and quality. (Ord. 06-8, 5-9-2006, eff. 5-29-2006)