City of Cape Coral’s Utility Extension Project (UEP)
The City of Cape Coral’s Utility Extension Project (UEP) was created to bring city water, sewer and irrigation to areas of north Cape Coral that are currently on well and septic systems. New roads, storm water improvements, and reduction of environmental problems are just some of the many benefits this project brings. North Cape Coral was divided into “Utility Extension Areas”, and the city made a plan as to which areas would start construction first. The first UEP was named “North 2” and construction for that area began in 2017, but took several years to be fully completed. The next UEP scheduled to receive utilities is referred to as “North 1” and covers a large area of the north east section of Cape Coral. Construction was set to start in 2022 but because there have been delays in the program, construction will most likely not start until some time in the middle of 2023.
What does this mean for property owners in these areas?
The most important thing to understand is that if you own property in the north 1 UEP your property taxes will go up! This is due to the assessments for water, sewer, and irrigation. The total assessment balance for North 2 UEP was $20,000, but the assessments for future UEP’S have drastically increased and are projected to be $35,000. These assessments do not need to be paid all at once and can be paid in arrears through your annual property taxes. The good news is that most likely the value of your property will go up! Many buyers prefer to buy lots that have city water and sewer rather than well and septic, so lots and homes in this area will be more valuable.
What does this mean for buyers?
Many home builders and buyers prefer to buy water and sewer lots. This is due to the time and costs that are associated with applying for well and septic permits and their installation. In addition, the resale value of these properties tend to be much higher. Unfortunately there are problems with purchasing water and sewer lots currently. The lots available in South Cape tend to be expensive, and there is very low inventory of lots in North 2 UEP. The ideal move for buyers would be to start looking for properties in North 1 UEP where they can buy for cheap now, with the knowledge that the area will get utilities very soon and increase in value.
For more information regarding the Utility Extension Project, please visit the City of Cape Coral website:
|Date:||December 15, 2022|
|Date:||December 14, 2022|
|Date:||July 9, 2014|