March 11, 2019, Green Cove Springs – Green Cove Springs City Council approved the updated study of the 2016 Rate Study for Water Utilities by consulting engineers Mittauer & Associates, Inc. and directed staff to return with an ordinance authorizing borrowing of funds for immediate Water Capital Improvement Projects and begin the process of securing a loan during Tuesday night’s meeting.
The presented study was requested by City Council in September 2018 so water rates can reflect the several water infrastructure projects approved for the next five years.
The study identified $16 million in projects prioritized for the next five years, including design and construction of Reynolds Water System Improvements, design and construction of Harbor Road General Storage Tank No. 3, design and construction of Bonaventure Water Treatment Facility Improvements (Magnolia Point 3rd feed), design and construction of Magnolia Point Cul-de-sac Water Main Improvements, and design and construction of Reynolds WTF HS Pumps and Well No. 2 Replacement.
Each of these projects will be funded through a combination of low-interest loans and grants. To accommodate this funding, the study recommends a water rate increase between 2 percent and 5 percent per year over the next 10 years to all Green Cove Springs water customers.
City Staff will first come back with an ordinance for City Council to authorize staff to secure funds for each project--for a total of $16 million—at the March 19 City Council meeting. Staff will then move to the first priority project—the design and construction of the Reynolds Water System Improvements—in April and present City Council to go after the $1.37 million total cost of the project through available funding options.
City Council will review the budget and water Capital Improvement Projects every year, and adjust water rates according to the needs of the budget.More: Home Page News