North Tonawanda is considering building a new $340,936 sewage pump station on Sherwood Avenue that would open 348 building lots to new housing.
City Engineer Dale W. Marshall who recommended approval of the project to the Common Council Tuesday night, said it would be financed by three subdivision developers and the city sharing the cost through a five-year special assessment.
Creation of a special assessment district covering the building lots in the central area of the city will be on the Common Council meeting agenda Nov. 5.
The area generally extends from Erie Avenue to Old Falls Boulevard with Sisson on the north and Walck Road on the south.
North Tonawanda's share of the pump station cost would be 19 percent, or $63,681, Marshall said.
Eighty-one percent, or $277,255, would be shared by three developers over five years with the average special assessment cost of $1,000 per lot being passed on to home buyers.
While all three developers have expressed interest at various times in subdivision development on their properties in the area, actual building of homes could stretch over the next 25 years, Marshall estimated.
Development cannot proceed at present because the city's sewer system is inadequate to accommodate the new housing.