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Consultant warns Lake Placids water/wastewater rates insufficient; council directs staff to draft rate ordinance
Summary
A Florida Rural Water Association rate analysis showed the towns current water and wastewater revenues wont cover capital needs and projected operations without rate increases; staff presented recommended multi-year increases and council gave consensus to draft an ordinance.
A rate study presented Sept. 15 by the Florida Rural Water Association found that Lake Placids current water and wastewater rates do not fully cover capital needs and that reserves will be exhausted without rate increases.
Diana Jo Stewart of Florida Rural Water briefed the council on the analysis. She said the towns existing billed rates were lower than the ordinance text adopted in late 2023 and that current revenues will not meet planned capital expenditures and debt-service requirements. The study identified a projected need…
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