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Town Board discusses $17 capital-reserve fee, contemplates $9 million cap
Summary
Grand Island Town Board members discussed adopting a $17 capital-reserve fee that would take effect after the permissive referendum period and the possibility of capping the reserve at roughly $9 million; board members asked staff to supply a missing water‑meter cost figure before finalizing resolution language.
Board members reviewed a proposed capital-reserve fee that would begin once the permissive referendum period closes and be deposited into a dedicated capital account.
The discussion centered on the fee amount — referenced in the meeting as $17 — and on what maximum project cap should be included in the adopting resolution. Members said they intend to adopt a resolution subject to permissive referendum and then begin collecting the fee directly into the capital reserve account once the referendum period ends.
Members discussed timing…
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