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3/20/2019 - Greensburg Water Board Meeting
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The Greensburg Water Board met Tuesday evening. Water Treatment Plant Superintendent Rick Denney reported that a pre-construction meeting took place on Tuesday with contractors and subcontractors that have interest in bidding for the new water treatment plant project. Mr. Denney and Darren Burkhart from HNTB expect about 11 general contractors to bid for the project. The contract will be extended by 6 months which will affect the final cost of the project. The expected maximum cost for the project is still about $22 million, although the number of interested contractors could result in bids below that amount.
Representatives from Baker Tilly Municipal Advisors (formerly Umbaugh and Associates) provided the board with a rate study summary. The city currently has two sets of bonds from 2007. The 2007A bonds are paid through $440,000 of annual outstanding debt service by the water treatment plant. The 2007B bonds are paid by Honda TIF funds and are scheduled to run through 2028, but excess Honda TIF revenue should allow the 2007B bonds to be paid off in 2022. The Decatur County Redevelopment Commission is expected to approve an agreement to pay $500,000 in Honda TIF funds for the project each year from 2019-2021. The Greensburg Redevelopment Commission will begin paying $500,000 in Honda TIF funds when the 2007B bonds are paid off in 2022.
The Baker Tilly representatives provided summaries of rate adjustments and resulting average monthly bills with and without Honda TIF funds for each year from 2019-2021 with the project costs at the current engineers estimates of about $22.5 million. The average residential monthly bill currently is $24.52 based on 533 cubic feet (4,000 gallons) of water. If TIF funds were excluded, the projected average monthly bill would increase by:
-29 percent (to $31.63) in 2019;
-9 percent (to $34.50) in 2020;
-and 6 percent (to $36.57) in 2021.
With TIF funds included, the projected average monthly bill would increase by:
-13 percent (to $27.71) in 2019;
-10 percent (to $30.47) in 2020;
-and 7 percent (to $32.59) in 2021.
The board will hold a special meeting on April 9th at 6:00 pm at Greensburg City Hall to open the bids for the project. The board will award bids during its regular board meeting on April 16th at 6:00 pm at Greensburg City Hall.
Tom Flemming-WTRE News
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