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Bradenton approves 20-year assessment to replace Ironwood private water system
Summary
After hearing HOA testimony and PFM financing scenarios, council approved proceeding with replacement of the Ironwood/Pine Brook private water distribution system and adopted a 20‑year default assessment amortization; the vote was unanimous.
Bradenton’s City Council voted Dec. 10 to move forward with replacement of the aging private water distribution system serving the Ironwood and Pine Brook communities and to use a property-assessment approach with a 20‑year default amortization for repayment.
Lance Williams, the city’s chief operating officer, reviewed the multi-year process: Jones Edmunds completed design and bid work, and the city engaged PFM Financial Advisors to model repayment scenarios. Staff said the project involves bringing private distribution mains up to city standards so the city can assume operation after construction. Staff and consultants described options to repay construction costs over 10, 15 or 20 years; the administration added a 10-year illustrative option to the…
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