Council hears sewer-rate plan, authorizes commitment letters for two sewer projects
Davenport Public Finance presented sewer fund projections showing roughly $4.8M in projects and projected 6.7% rate increases in FY28–29; council authorized staff to execute commitment letters for VRA/Clean Water Fund financing and referred the Jack Branch line to committee.
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Davenport Public Finance presented a pro forma estimate for Blackstone’s sewer enterprise fund Monday, laying out financing assumptions for two capital projects — a Ford Avenue sewer replacement and a Forest Drive main replacement — with a combined cost of about $4.8 million. Consultant Roland Kooch said the town could obtain below‑market financing through the Virginia Resources Authority’s Clean Water revolving fund, with repayment assumed over 30 years and an illustrative VRA interest rate around 3.75%.
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