VILLAGE OF GRAFTON NOTES TO FINANCIAL STATEMENTS As of and for the Year Ended December 31, 2016 NOTE III - DETAILED NOTES ON ALL FUNDS (cont.) G. LEASE DISCLOSURES Lessor - Operating Leases The Village has entered into several lease agreements with telecommunications companies, wherein the Village has agreed to allow the use of Water Utility property for the purpose of telecommunication relays. Revenue from this activity totaled $105,372 for the year ended December 31, 2016. Future minimum lease payments receivable in conjunction with these leases are as follows: Business-type Activities Years Principal 2017 $ 106,928 2018 117,030 2019 119,963 2020 123,015 2021 126,188 Totals $ 593,124 H. LANDFILL POST-CLOSURE LIABILITY In 1997, the Village was contacted by the Town of Grafton concerning a closed noncombustible landfill site that was used by the Village and the Town where underground water contamination was detected. In 1998, the Town of Grafton paid for extension of a water main to all properties affected by the contamination. The Village of Grafton Water and Wastewater Utility contributed towards the project to compensate the Town for the cost of overseeing the water mains and to vary the route of the project in order to accommodate potential future development that may occur in the Village. Groundwater sampling was performed by the Town during 1998-2001. As part of an Administrative Order issued by the Wisconsin Department of Natural Resources, the Town has installed or has access to four groundwater monitoring wells and three bedrock piezometers in the area. The Town continues the implementation of a long-term groundwater monitoring plan and is evaluating remedial action options. During 2007, the Village undertook the West Plume Environmental Project. This consists of a planned monitoring program associated with a natural attenuation strategy for a contaminated groundwater plume on the Village's south side. The plume originates from a private manufacturing property. The present value of total operation and maintenance costs for these environmental matters has been estimated at $229,140 for the next thirty years. This estimate is subject to changes from deflation, inflation, technology, or changes in laws and regulations and therefore this amount has been included as a long-term obligation. No current portion of this obligation has been reported as of December 31, 2016 as there is no agreed upon repayment structure. 76