8/17/1993 - Laserfiche WebLink

Home Browse Search

Comparison of Current IRC Rates i Current and Proposed GDII Rates Based on MonthlyBillinc 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. Detailed schedules of Utility Plant in Service, Projected First Year Sales Revenue, Proposed First Year Budget if System is Purchased, and Comparison of Indian River County and General Development Utilties Proposed Rates are attached. Also attached is a copy of the GDU letter acknowledging the proposed purchase and sale and the tentative purchase price of $3,000,000.00 subject to BCC approval, and the execution of agreements acceptable to both parties. RECOPU ENDATION Based upon the facts presented in the above analysis and the attached memo to assure compliance with Florida Statutes, Section 125.3401, the staff of the Department of Utility Services recommends the Board of County Commissioners' approval of the purchase of General Development Utilities, Inc. (Vero Highlands/Shores utility system) at $3,000,000.00, plus closing costs, approval of the proposed first year operating budget to be effective with closing, and approval for the Department to negotiate the final contract to be presented to the BCC for approval. 31 L_AUG 171993, BOOK 90 F'wjt 223