Hope Utilities water rate hearing notice - July 17th

NOTICE OF A PUBLIC HEARING ON PROPOSED WATER RATES AND CHARGES

Property owners, ratepayers and other interested parties in or served or to be served by the waterworks of the Town of Hope ("Town") are hereby notified that Ordinance No. 2018 - 02, establishing rates and charges for services to be rendered by the waterworks, will be introduced at a meeting of the Town Council to be held on July 17, 2018. The Ordinance will amend the final phase of a two-phase rate adjustment originally approved pursuant to the adoption of Ordinance 2015-04 on September 21, 2015. The Town Council will hold a Public Hearing at 5:30 p.m., on July 17, 2018, in the Town Hall on the matter of the proposed amended rates and charges. Adoption of Ordinance No. 2018 - 02 would provide for an overall 10% reduction in the Phase Two rates originally approved pursuant to Ordinance No. 2015-04, as follows:

The revised final Phase 2 rates will become effective upon adoption of the ordinance. The proposed overall rate reduction is due to the 2015 capital improvement project receiving a $925,000 grant from the Indiana Finance Authority’s State Revolving Fund (SRF) Drinking Water Program, in addition to a $550,000 OCRA grant that had already been contemplated. The proposed revised rates result in an overall decrease of approximately 10%, as compared with the Phase Two rates adopted in 2015. The proposed rates represent an increase of approximately $.91 per 1,000 gallons due to the cost of purchasing water from the Town’s wholesale supplier plus an 8.5% across-the-board increase over the Phase One rates adopted back in 2015.