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Staff along with representatives from WaterPro have gathered data, <br />performed meter testing, assembled an RFP, and a financial reportbasedonthenationalaveragesandinformationavailable. Thisdocumentcanpredictestimatedlabor, material, and capital costs and <br />savings related to a total meter change out. Data is compiled basedonthecurrentsystem's meters which are an average of 20 years old. Increased revenue through accurate meters and efficient reading canproduceanadditional $2.06 million during the next 20 years. The <br />system upgrade will pay for itself after approximately 8 years. <br />Staff has also been in touch with staff from the City of Arden Hills, as <br />they too are very interested in an Automated Meter Reading Program. By combining the two projects it might be possible for both cities to <br />save an additional $25,000. Representatives from WaterPro will be in <br />attendance Wednesday evening to expand on these issues in greaterdetailifnecessary. <br />Possible funding mechanisms for this project may be: <br />1. Institute a quarterly or monthly meter charge. <br />2. Increase in rates. <br />3. Leasing to purchase, use possible increased earnings <br />to offset lease payment. <br />4. Bonding <br />5. Water reserve funds. <br />Staff requests Council direction whether to proceed with this project. <br />The next course of action would be to finalize and advertise the <br />RFP, analyze the RFPs, formally present to council, award project.