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Lincoln Park council approves financing for citywide water-meter replacement
Summary
Council approved an installment purchase agreement to finance the first phase of a citywide water‑meter replacement to reduce about 40% system water loss; staff estimate 15,000+ meters, roughly $3.3 million initial phase, and annual debt service of $420,000 for the phase approved.
Lincoln Park Mayor and City Council on Dec. 8 approved a resolution authorizing an installment purchase agreement with Government Capital Corporation to fund the first phase of a citywide water‑meter replacement project.
City Manager Lisa told council the city has “just over 15,000 meters throughout the city” and said water loss has been “hovering around 40%.” Staff estimated the initial phase cost at roughly $3.3 million and annual debt service for that phase at about $420,000. Lisa said the city expects to recapture between $800,000 and $1.5 million in lost revenue once…
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