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Edwards, Ryan <br />From: Joanne Fagan Ofagan @town. rid gway. co. us] <br />Sent: Thursday, August 09, 2012 4:17 PM <br />To: Edwards, Ryan <br />Cc: Pam Kraft; Jennifer Coates <br />Subject: Ridgway CWCB loan questions <br />Attachments: R LO cwcb loan ap rev1.PDF <br />Hi Ryan, <br />Good to speak with you last week. I appreciate the feedback and opportunity to make some changes and provide <br />additional information. We reviewed the budget and made some adjustments. Attached is an updated cost estimate for <br />the selected plan (attachment 4) with and without a potential funding source allocation. I have also attached an updated <br />application which reflects what I hope are the same updated numbers. Town in kind includes most of the design services, <br />construction observation and management, and construction of the new access road. <br />Also attached are the water fund unaudited year end figures. As you can see, we have narrowed the gap between <br />operating revenue and expenses. As I mentioned when we spoke, the Town in 2010 adopted an ordinance to increase <br />water rates $5 per month per use for 3 consecutive years to get the fund back in balance. The base rate in 2012 is $37 <br />per single family residence. We expect operating revenues to more than meet expenses in 2012. Assuming the town is <br />successful in securing a loan for the Lake O project, we anticipate needing to raise the rates one more time to stay in the <br />black. Staff has discussed this with the Town Council on numerous occasions and they recognize the need. <br />The Town has about 700 single family equivalents. We invoice for 548 residential single equivalents and have about 114 <br />commercial customers. In January 2012 the commercial customers used 735,900 gallons. Assuming 5000 gallons for a <br />single family equivalent that equates to 147 SFE units. In 2011, the Town sold 42,131,200 gallons or about 5016 gallons <br />per month per single family equivalent. There is a little redundancy in the calculations, but I am not sure how else to <br />translate the commercial users to single family equivalents. In 2011 the base rate for water was $32 per month. Total <br />water service charges for 2011 per $291,124 or $34.66 per single family equivalent. We are projecting the average bill <br />per single family equivalent in 2012 will be in the $40 per month range. <br />I hope I have addressed all the items you requested. Please let me know if you have questions or would like additional <br />information. We appreciate your assistance with our application. <br />Joanne Fagan <br />970 729 1282 <br />