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and also the rate of return on that obviously would be higher; therefore, he felt Mr. Reynolds' statement was incorrect. Mr. Reynolds believed inflation rates are coming down, and this is a private company whose proposed sewer rates are higher than the city's and close to those of the county. He felt that a private company can do things much cheaper than the government, and he wished to make the point that a private company's costs should be much lower than what they are showing. Mr. Reynolds then read into the record the letter which is a part of Exhibit "A" Public entered into the record earlier, as follows: % Board of Indian :aver County Commissioners County Administration Building 1840 25th Street Vero Beach, FL 32960 Vero Shores Homeowners' Ass c/o Allen Reynolds Civic Liasion. Officer 473 22nd Place SE Vero Beach, FL 32962 March 17, 1986 Dear County Commissioners, (The following statement is in rebuards to the request of General Development Utilities for a sewer rate increase for Vero Beach Highlands and Vero Shores :Dater and Sewer Division. It is scheduled for your con- sideration ":arch 19, 1986 at 7:30 PM.) 0The Vero Shores .jomeowners Association claims that General Develop- ment is a land developer "first, last and always". And that General De- velopment uses their utility franchise to assist in financing its' new construction and land development. The 1982 operating costs that General Eevelopment ;tilities uses as a basis for their proposed rate increase happens to be the same period of time General Developw�unt, the land devel- oper, built several hundred homes in the Vero Beach `iighlands. And.guess what? Their operating costs soared. Gereral Develop::ient is now using Lhese 1982 out of context costs to justify a 2u0 o �uewerare rate .increase per 5000 gallion water usage. General Development is a land developer with :More then 30 years ex- periance in betting things its' way by deliberatly desi,-,niag manQuvcrs to gain every advantage. The Vero Shores Homeowners' Association believes General Developtaent Ut-ilitics failed to penalize General Dev.elopment "the aeveloper" when they built a tre,,iendous number of homes in the early 19801s. General Develop- ment in a conflict of interest, is using -1962 statistics to back their claim for such an exorbitant rate increase in a time now of near zero in- flation. Finally, common sense should tell us a long established private com- pany should be able to provide its' customers with water and sewer costs much lower than any city or county oovernm::ut utility could provide. The 15 BOOK 63 N, ";E -9 0