COLDWATER, MI (WTVB) – Following a study from Utility Financial Solutions, the Coldwater Board of Public Utilities Board of Directors on Wednesday night approved a resolution that recommends overall rates for water and wastewater be increased yearly through 2028.
Rates will be hiked yearly by three-point-nine percent for water and two-point-nine percent for wastewater.
The proposed rates would go into effect on July 1 if the resolution is approved on Monday night by the City Council.
Utility Financial Solutions Vice-President Dawn Lund presented a rate analysis to the board. She said increasing water rates requires balancing the financial health of the utility with the financial impact on customers.
She said the study identified proposed rate increases of 3-point-9 percent from 2024 through 2028 to allow the utility to move towards the financial targets over the five-year period. The projection includes a $1-point-5 million bond issue in 2027 to help fund the capital improvement program.
City of Coldwater Finance Director Tom Eldridge pointed out major upgrades are planned for the CBPU’s wastewater treatment plant.
B.P.U. Director Paul Jakubczak blamed inflation and higher material costs as the reasons why the adjusted rates were higher than what were recommended in a previous study.
Due to technical difficulties, the meeting was not live streamed as usual over You Tube. A video recording of the meeting was put on line Thursday morning.
Don’t we pay enough now….?