Funding & Rates
Maximizing outside funding to multiply every dollar contributed locally is a universal priority for all Project 7 members. Regional water supply resiliency programs such as this are strong candidates for federal and state grants; however, this effort will be funded in part by increasing the price that Project 7 members pay for wholesale water.
The forecasted water rate increases associated with the Regional Water Supply Program are intended to roughly match the inflation adjusted value since Project 7 first opened its taps. Over the past 40+ years, Project 7 has maintained rates below inflation adjusted levels through efficient management and proactive maintenance of the existing system.
Going forward, this funding approach will restore Project 7’s purchasing power and fund the region’s future water needs, while simultaneously correcting for 40-years of deferred inflation. The bottom line is, decades of efficient management of our drinking water system has allowed us to defer rate increases, not system maintenance. Now is the time to reinvest in a secure regional water supply for future generations.
Depending on the ultimate design and construction cost, the actual revenue increases from wholesale water rates will be determined by the amount of outside grant funding and low-interest loans secured for the project. The funding strategy for this effort will continue to be guided by the following principles to minimize increases to local ratepayers:
• Maximize outside funding to multiply every dollar contributed locally
• Strong candidate for federal/state grants; however, a local match is required by increasing the price of wholesale water
• Match the inflation adjusted value of water; 40+ years of efficient management has allowed us to keep rates below inflation adjusted levels
• Fund the region’s future water needs, while simultaneously keeping rates low by correcting for deferred inflation
• Bottom Line: Project 7 has supported a strong regional community and economy since 1980. Now is the time to reinvest in a secure water supply for future generations…so next 40 years are as strong as the past 40!
The forecasted water rate increases associated with the Regional Water Supply Program are intended to roughly match the inflation adjusted value since Project 7 first opened its taps. Over the past 40+ years, Project 7 has maintained rates below inflation adjusted levels through efficient management and proactive maintenance of the existing system.
Going forward, this funding approach will restore Project 7’s purchasing power and fund the region’s future water needs, while simultaneously correcting for 40-years of deferred inflation. The bottom line is, decades of efficient management of our drinking water system has allowed us to defer rate increases, not system maintenance. Now is the time to reinvest in a secure regional water supply for future generations.
Depending on the ultimate design and construction cost, the actual revenue increases from wholesale water rates will be determined by the amount of outside grant funding and low-interest loans secured for the project. The funding strategy for this effort will continue to be guided by the following principles to minimize increases to local ratepayers:
• Maximize outside funding to multiply every dollar contributed locally
• Strong candidate for federal/state grants; however, a local match is required by increasing the price of wholesale water
• Match the inflation adjusted value of water; 40+ years of efficient management has allowed us to keep rates below inflation adjusted levels
• Fund the region’s future water needs, while simultaneously keeping rates low by correcting for deferred inflation
• Bottom Line: Project 7 has supported a strong regional community and economy since 1980. Now is the time to reinvest in a secure water supply for future generations…so next 40 years are as strong as the past 40!
Still have questions? Review the Regional Water Supply Program Frequently Asked Questions