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Lincoln Park approves financing to replace 15,000 water meters aimed at cutting roughly 40% system loss
Summary
The City Council approved an installment purchase agreement to fund the first half of a citywide water meter replacement project intended to lower estimated water loss and recapture an estimated $800,000–$1.5 million in annual revenue.
Lincoln Park — The City Council on Thursday approved an installment purchase agreement that will finance the initial phase of a citywide replacement of roughly 15,000 water meters, a step city officials say is intended to reduce chronic water loss and improve billing accuracy.
City Manager Lisa Griggs told the council the city has been "hovering around 40%" water loss and that replacing aging meters is the most practical way to recapture lost revenue. Staff estimated a conservative revenue-recapture range of $800,000 to $1.5 million annually once the new metering is fully in place.
"This project will take some time to get that revenue back," Griggs said, explaining the administration sought to split financing into two components so the city…
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