As though we didn't know this would be the result.
The MWP 2012 "will not be reviewed by an independent engineer" begins the Morning Star story today by Roger Knox.
Citizens for Changes to the Master Water Plan "had pushed for a peer review of the water plan, but that request was denied by the stakeholders," summarizes the wordy article.
Concluding paragraphs are:
"The full scope of the master water plan is about $108 million
over 50 years
but the cost could depend on factors such as
government grants and filtration being deferred or not occurring at Duteau.
While another referendum is possible,
funds could also come from reserves and existing revenue."
Reserves?
Existing revenue?
Think, folks!
If that monumental amount of money is to come from reserves, it'll come from increased base rates!
If that monumental amount of money is to come from "existing(?) revenue", it'll come from drastically increased consumption rates!
Greater Vernon Water wouldn't dare hold another borrowing referendum!!!!
It'd fail just like the last one in 2014.
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| GVW's gouging continues... |
"And funds could also come from an exit interview fee as people leave the community," sighs Kia.
It's been said GVW wants a Cadillac water system.
For residents who are selling their second vehicles.
The option 2 which was incorporated into the master water plan was always to cost $111 million. The $70 million borrowing was for the first phase with an additional $41 million to be borrowed in 2022. (mostly for the Filtration at mission hill.
ReplyDeleteAt the borrowing rates at the time this would have necessitated a 30% increase in water rates with a further 17% imn 2022.