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arf <br /> OF Agenda Section: 10, 7: 10p.m. <br /> 11111REQUEST FOR COUNCIL CONSIDERATION Report Number: 95-1427C <br /> 7W <br /> 06STAFF REPORT Report Date: 8-16-95 <br /> Council Action: <br /> ❑ Special Order of Business <br /> CITY COUNCIL MEETING DATE August 21, 1995 ❑ Public Hearings <br /> ❑ Consent Agenda <br /> Council Business <br /> Item Description: <br /> Informational Meeting Regarding the Water Meter <br /> Changeout Proposal <br /> Administrator's Review/Recommendation: <br /> - No comments to supplement this report 'er# <br /> - Comments attached. <br /> Explanation/Summary (attach supplement sheets as necessary.) <br /> SUMMARY; <br /> At the August Council work session, Council directed staff to prepare an <br /> informational newsletter to explain the proposal to change the City' s water <br /> meters and meter reading system. Along with the newsletter, an <br /> informational meeting was also scheduled for August 21, 1995 . The <br /> newsletter was drafted and mailed to the residents the week of August 6th. <br /> The informational meeting is scheduled for 7 : 10 at the regular Council <br /> meeting. Staff will present the history of this proposal, and explain the <br /> reasons why Council would be considering the changeout. For Council' s I <br /> review and consideration are the three options presented in past reports . <br /> Staff will also be prepared to answer questions that were not addressed in <br /> the newsletter. <br /> * The first option is to changeout the current water meters, and install <br /> the most current meter reading technology of automatic phone reading. <br /> Option #1 Chargeout of all meters to phone read <br /> Total cost of project : $830, 000 <br /> WAC Fund Contribution: $330, 000 <br /> Special Project Loan : $500, 000 <br /> 9,57 interest loan, 12 years <br /> Projected Increased Revenue $31, 500 <br /> Possible meter charge / quarter: <br /> Residential - 5/8 " $3 . 00 <br /> * Commercial - 1" $3 . 60 <br /> 1 1/2" $6 . 00 <br /> 2" $7 . 40 <br /> 3" $19 . 00 <br /> * Represents the percentage of cost of meter and <br /> installation over the residential 5/8"meter, with a <br /> starting fee of $3 . 00 . <br /> This scenario would produce $70, 381 toward an annual loan payment of <br /> $62, 951 . The balance of the revenue could remain in the water fund for <br /> future projects, or future meter replacement. <br /> ** The second option would be to install new meters and phone, or radio <br /> read on all the commercial accounts, unless touch read is applicable, and <br /> iLstall new meters and touch read on the residential accounts. This is <br /> somewhat of a lesser system, but will be a significant improvement in <br /> reading and billing. This system would also relieve the City of the <br /> problems related to scheduling meter readings, security risks of entering <br />