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Frederick Water outlines $119M 10-year CIP, reserve draw and project timeline
Summary
Frederick Water executive director Eric Lawrence told the Board of Supervisors the authority will pull $43 million from reserves to fund prioritized projects, is planning a $119 million 10-year CIP with long-term sewer needs near $281 million, and prefers self-funding over new bonds to avoid high interest costs.
Eric Lawrence, executive director of Frederick Water, told the Frederick County Board of Supervisors that the authority is moving to fund a large slate of capital projects from reserves and targeted revenues rather than new bonds.
"We're actually an authority," Lawrence said, framing Frederick Water's status under the Virginia Water and Waste Authorities Act and distinguishing it from public utility companies regulated by the State Corporation Commission. He said the authority serves roughly 18,009 connections and about 50,000 people and emphasized the principle that "growth pays for growth," relying on developer availability fees and customer rates to fund expansion.
Lawrence presented the authority's FY25 budget and capital-improvement program (CIP), which he said includes roughly $51…
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