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The Lebanon City Council has given its support, in principle, to assist Nally and Hayden with a planned housing development near Wal-mart.
Tony O'Daniel, a real estate broker, spoke with city officials Monday evening on behalf of Nally and Hayden. The development calls for around 86 residential lots to be built.
The company has asked the city to help with the cost of building a pump station to move sewage from the housing development to the city sewer system. O'Daniel said the pump station would be bid as part of a package of services Nally and Hayden would need to complete for the housing development. And he estimated the pump station would cost between $100,000 and $125,000.
Mayor Gary Crenshaw said the plan would be for Nally and Hayden to put in the pump and for the city to purchase the station from Nally and Hayden over three years. Crenshaw added that if the city installed a pump station itself, it would be required to install a bigger pump station that would cover the entire drainage area, and that pump would cost closer to $300,000.
Councilwoman Kate Palagi asked what would happen if the houses planned for the development could not be completed for some reason.
City Administrator John O. Thomas said if that happened then Nally and Hayden would repay the city at a cost of about $4,500 per year until the balance was paid off.
O'Daniel estimated that they would have 30 lots ready during the first year of the project.