DESIGN AND FINANCING POINTS FOR CAPITAL FACILITIES ATTRIBUTABLE TO NEW GROWTH
Abstract:This paper discusses the means for a municipality to successfully accommodate high growth rates with their related additional infrastructure costs via a financial structure that appropriately assigns new sewer system and treatment facility costs to future users.
An example wastewater treatment facility and interceptor sewer capital project are considered for the Town of Westfield, Indiana as they both relate to original financial projections and subsequent results. The financial structure for the subject capital improvements focused on using availability and connection fees from new development to service debt requirements in lieu of utilizing revenues from existing users by substantially raising sewer users fees.
This approach has been applied to a high growth community and the results of the implemented physical system and financial structure, as projected, can now be evaluated based upon several years of actual operation and financial results. The lessons learned from the observed results are applicable to ensuing capital projects undertaken by the Town of Westfield, as well as similar, high growth communities with comparable situations.
Document Type: Research Article
Publication date: 2002-01-01
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