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Committee approves short-term financing and MOU for Treasure Island utility repairs; analysts require 10-year plan
Summary
The committee approved items to extend the Navy cooperative agreement, establish an MOU with the Public Utilities Commission, and authorize short-term debt to finance up to $10 million in urgent Treasure Island utility repairs; analysts recommended a required 10-year financial plan and an MOU to protect the general fund.
The Budget & Finance Committee approved a package of measures (items 6–9) to address deteriorating utility infrastructure on Treasure Island and to authorize short-term financing to fund immediate repairs.
Mr. Beck, Treasure Island Director, said the cooperative agreement governing operations with the U.S. Navy dates to 1997 and that Public Utilities Commission assessments have identified “more than $40,000,000 in deficiencies” across water, electrical and wastewater systems. He described a preliminary project scope of roughly $10,000,000 in repairs — about 70% for wastewater collection and treatment, 25% for…
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