Longmont councillors want rate payers to weigh in on paying for Windy Gap supply

Map from Northern Water via the Fort Collins Coloradan.
Map from Northern Water via the Fort Collins Coloradan.

From the Longmont Times-Call (Karen Antonucci):

The Longmont City Council has opted to participate in the Windy Gap Firming Project, which would construct a reservoir in order to hold some of the water produced by Longmont’s water rights.

There are three options to finance Longmont’s projected $47 million portion of the Windy Gap Firming Project — one using all cash and two using variations of debt.

If the council chooses to pay the $47 million in cash, it would mean initial water rate increases of 13 percent in 2017 and 12 percent in 2018, above the 9 percent increase in both of those years that has already been approved, for totals of 22 percent and 21 percent.

Or, the council could choose to use $41 million cash and $6 million in debt. This would mean initial rate increases of 8 percent in both 2017 and 2018 above the already approved 9 percent increase in those years. With this option, the city would spend $50.1 million total, including interest, on the project.

Finally, the council could choose to finance the project with $30.3 million in cash and $16.7 million of debt, it would mean initiative water rate increases of 5 percent in both 2018 and 2019 above the 9 percent increase in both those years. This option would ultimately cost the city $55.8 million.

For the cash option and the $6 million debt option, the rate increases over 10 years would be similar. The $16.7 million debt option would result in the highest total rate increase over a decade.

Longmont spokeswoman Holly Milne said that the council asked for the survey and the online comment form because they wanted resident feedback before they make a decision.

Residents can visit http://longmontcolorado.gov/departments/departments-n-z/water/water-resources-supply/windy-gap-firming-project and fill out an online form with their opinion of what the city should do.

The city is also surveying 3,000 randomly selected Longmont households with a postcard survey. The households chosen will be different than the households that will receive the city’s separate customer satisfaction survey.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s