7/20/1993 - Laserfiche WebLink

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The debt.service for the acquisition cost is supported with revenues generated from the existing GDU customer base with current County uniform rates. The current County rates are approximately 19% higher than the current GDU rates, but the current County rate is 78.96% lower than the GDU proposed rates for a customer using 5,000 gallons per month. Monthly Usage IRC Current Rates GDU Current Rates GDU Proposed Rates Consultant Recommended Rates 0 Gal(Min) $26.70 $18.35 $71.60 $38.26 5,000 Gals $50.49 $42.30 $90.35 $81.81 7•,000 Gals $60.49 $52.36 $98.33 $99.71 *Does Not Inc. 6% Tax The water and wastewater system improvements as recommended in the Updated CH2M Hill Evaluation Report are included in the revenue requirements supported by the system. It should be noted that if the utility is not purchased by the County and GDU is required to make these improvements,.the costs incurred will be recovered through higher rates to the customers in the GDU Vero Highlands/Shores service area over and above the amount requested in their current rate increase request. The staff of the Department of Utility Services recommends that the Board of County Commissioners set a date for a Public Hearing as required by Florida Statutes -125.3401 and approve the proposed purchase of the General Development Utilities, Inc., utility system serving the franchised area of Vero Highlands/Shores, based upon the outcome of the Public Hearing. Director Pinto further explained that since the memo was written, General Development committed to a price of $3 million, based on certain approvals. ON MOTION by Commissioner Macht, SECONDED by Commissioner Eggert, the Board unanimously scheduled a public hearing on August 17, 1993, to consider the purchase of General Development Utilities, Inc., (GDU) Vero Highlands/Shores Utility System, as recommended by staff. 21 J U L 201993 90QK 90 FAGS 310