As a water professional I believe that I have some knowledge and experience worth sharing.
First and foremost, all financial transactions related to the existing Dobbs Street water plant are included within Roswell’s Water Enterprise Fund. This is a self-funded enterprise and all the costs associated with the maintenance and operations of that plant are to be borne exclusively by its customers through the rate charged for water.
A new plant is projected to cost in the vicinity of $15 million and to date the city has yet to decide whether the loan will be for 10 or 20 years. Adding to that initial expense, there could be 4.5 percent to 5 percent interest rate compounded over the life of the loan, adding additional interest costs of some half a million dollars. That totals appx. $15.5 million divided among ONLY 5,600 customer accounts!
Keep in mind that the cost of this new plant is to be funded using a “revenue” bond that can unilaterally be passed by Roswell City Council without voter approval and a revenue bond can only be secured with guaranteed REVENUES, which will undoubtedly come from higher utility rates.
Maybe, just maybe, the most critical information, like an actual "RATE ANALYSIS," will be forthcoming at that initial presentation to be held tonight at 8 p.m. in Room 220 immediately following the regular Roswell City Council meeting.
I will follow and report on the proposed water plant expansion project going forward.
janet h russell
7:51 pm on Sunday, February 26, 2012
Please keep us in the information loop, Lee. Every time someone questions this decision, we get a dance around the question but no substantive answers.
Dianne
11:20 pm on Sunday, February 26, 2012
Thank you, Lee, for always being the eyes and ears for the voters and concerned citizens of Roswel!! Good work.
Lee Fleck
1:45 pm on Monday, February 27, 2012
Since January of 2010, I have been waiting to hear from Mr. Stu Moring relative to “the technical and economic studies for the water system” necessary to “undertake an overall economic assessment and rate study”, of which the latter will be of interest to the city’s customers because that will be the basis of their water bills.
Hopefully very specific utility rate information, including the impact of a revenue bond, will finally be provided this evening and the speculation will once & for all be answered.
Lee Fleck
11:12 pm on Monday, February 27, 2012
On March 19, Public Hearings on a $14.56 million BOND to build the new water plant will be helld at City Hall in room 220 from Noon to 1:30PM and later the same day from 5:00 to 6:30PM.
Based on a statement by Mr. Stu Moring, Roswell Public Works Director the average consumer can expect a water bill increase from $42 to $47 bimonthly (or $2.50 per month).
Lee Fleck
4:49 pm on Tuesday, February 28, 2012
Roswell's water bill increase of $2.50 per month is ONLY the first installment to pay for the proposed $14.5 million bond. Learn more at the public hearing on March 19th.
Lee Fleck
3:15 pm on Wednesday, February 29, 2012
Link to Roswell Water Plant info & Site location.
http://roswell.legistar.com/MeetingDetail.aspx?ID=186404&GUID=190E4AED-457F-48A2-BD70-30313FCF3B8B&Options=info|&Search
Lisa
10:15 am on Monday, March 5, 2012
Just checked out the power point. So they can take Park Land and put a water tower to serve 5600 homes, but can't take Park Land for a Fire Station??? Something is wrong here.
Michael Vickery
11:27 am on Monday, March 5, 2012
Thanks Lee for posting this information about the Water Plant. My home backs up to the Softball filed the City wants to build the water storage tank. I purchased my home 22 years ago and one of the main reasons was the use of the park / green space along with the thought that this space would remain a park. I will get this out to my neighborhood and the meetings.
Lee Fleck
12:25 pm on Monday, March 5, 2012
"The right of freely examining public characters and measures, and of free communication among the people thereon ... has ever been justly deemed the only effectual guardian of every other right." --James Madison, Virginia Resolutions, 1798