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<br />The proposed revisions to the existing policy are shown on the attached sheet, which is a revised <br />version of the attachment to the Town of Erie memorandum for the January meeting. The <br />suggested revisions are: <br /> <br />Tap and/or connection fees would be allowed to constitute as much as ten percent of the <br />borrower's total revenues. <br /> <br />Revenues may be estimated using the rate structure most recently adopted by the borrower's <br />governing body rather than the rate structure currently in use, <br /> <br />No increase in the debt service coverage ratio is proposed, <br /> <br />Conclusion <br /> <br />Staff believes the preceding suggestions would be of benefit to communities that are <br />experiencing growth and development pressures without unduly compromising the integrity of <br />the Board's existing loan portfolio. <br /> <br />Cc: Linda Bassi, AGO <br /> <br />2 <br /> <br />. <br /> <br />. <br /> <br />. <br />