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Board discusses capital reserve timing and a spending cap tied to water‑meter purchase
Summary
Grand Island board workshop considered placing a capital reserve fee into a dedicated account once the permissive‑referendum period closes, discussed starting collections after Q1, and debated a maximum project cap (up to $9 million was discussed). Staff said a final water‑meter purchase amount from Elaine was not yet available.
During its reorganization workshop the Grand Island Town Board discussed allocating a newly proposed fee into a dedicated capital reserve account, timing the start of collections after the permissive‑referendum period closes, and setting a cap on the project amount.
Staff described a proposal to adopt a resolution that would direct fee revenues into a dedicated capital reserve account once the permissive‑referendum period ended. Board members indicated the town would begin collecting the…
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