Colorado Springs: Utilities’ financing plan doubles rates over 10 years

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From The Colorado Springs Gazette (R. Scott Rappold):

Sitting as the Utilities Board, the City Council on Wednesday approved a plan for financing and building the Southern Delivery System water pipeline, which includes a doubling of water rates between 2010 and 2019. The city-owned utility has already received approval from the U.S. Bureau of Reclamation, which runs the reservoir, and Pueblo County. Though each rate increase will have to be approved by the council annually, the plan calls for annual water rate hikes of 10 percent to 12 percent through 2017, and 4 percent a year for two years after that. The increases would be on top of a 41 percent hike in water rates this year. β€œThe rates will double over the next nine years as we go forward in getting this project done, but it’s something that needs to be done for the future of our community,” said Mayor Lionel Rivera. Average monthly water bills would go from about $40 in 2010 to $70 to $100 in 2019.

More Coyote Gulch infrastructure coverage here.

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