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Lisle officials back multi-year water rate plan; consultants recommend 9% increases in first two years
Summary
The Village of Lisle’s Committee of the Whole heard a rate study recommending a five-year plan that would raise water rates 9% in FY27 and FY28 and 7% thereafter (sewer increases ~1.5% annually), use $9.5M in reserves to fund capital, and keep connection fees unchanged while raising late-payment penalties to 10%.
Alex Craven, project manager for 18 98 and company, presented a five-year financial plan for Lisle’s water and sewer utilities and recommended a multi-year rate path to address rising operating and capital costs.
Craven told the board the village starts the current fiscal year with about $9.5 million in unrestricted utility reserves and that projected capital needs total roughly $17 million over the next decade, including an estimated $700,000 for federally mandated lead service line replacements. “We’re proposing a 9% in fiscal year 27 and 9 percent in fiscal year 28 and 7 percents thereafter,” Craven said, describing a levelized approach intended to minimize rate volatility while meeting reserve and capital targets.
The consultant’s model shows the water…
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