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CITY OF REQUEST FOR COUNCIL CONSIDERATION Agenda Section: 10. 11106 STAFF REPORT Report Number: 95-1404WS DEW AGENDA SESSION DATE July 10, 1995 Report Date: 7-3-9 5 DISPOSITION Item Description: Continued Discussion of Watermeter Changeout Proposal Administrator's Review/Recommendation: - No comments to supplement this report - Comments attached. Explanation/Summary (attach supplement s •eta as 'ecessary.) SUMMARY; Staff has researched the possible funding options for a city wide water meter changeout as directed at the June work session. Funding sources identified were, the Water Access Charge Fund (WAC) , and the Special Projects Fund. Noted at previous council work sessions the Water Utility is currently losing approximately $30, 000 per year, through inaccurate meters . This loss will continue to increase until these meters are replaced. Three options are available for Council consideration. An outline of the funding will follow the options . * The first option is to changeout the current water meters, and install the most current meter reading technology of automatic phone reading. Option #1 Changeout of all meters to phone read Total cost of project : $830, 000 WAC Fund Contribution: $330, 000 Special Project Loan : $500, 000 07 interest loan, 12 years Projected Increased Revenue $31, 500 Possible meter charge / quartr: Residential - 5/8" $3 . 00 * Commercial - 1" $3 . 60 1 1/2 " $6 . 00 2" $7 .40 3" $19 . 00 * Represents the percentage of cost of meter and installation over the residential 5/8"meter, with a starting fee of $3 . 00 . This scenario would produce $70, 381 toward an annual loan payment of $62 , 951. The balance of the revenue could remain in the water fund for future projects, or future meter replacement . ** The second option would be to install new meters and phone, or radio read on all the commercial accounts, and install new meters and touch read on the residential accounts . This is somewhat of a lesser system, but will be a significant improvement in reading and billing. This system would also relieve the City of the problems related to scheduling meter readings, security risks of entering residences, incorrect readings, scheduling final readings when the customer is at home, and an enormous amount of staff time related to all of the aforementioned items . (over)