Watseka residents are likely to see a 5% water rate increase. And it’s likely to happen by January 1, 2018.
The City Council Finance committee (Tuesday) also talked about perhaps considering a cost-of-living hike rather than the 5% increase to lighten the blow on taxpayers. But the need for building up a surplus is imminent.
Finance committee chairman Rick Elliott informed the aldermen/women there was a 5% rate increase last November, but that’s far from enough to get where the city needs to be for the future....
“The water & sewer fund has lost $136,000, due to the North Street water main project,” Elliott tells 94.1 WGFA News. “The residents have said they want to keep local control of the system. This would that to happen.”
A second 5% hike would be likely in 2019. The city remains under contract with ERH for another two years. Elliott said the 5% hike would generate about $100,000 per fiscal year.
The monies Elliott said, would, the city to explore other options.