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Parker council backs using impact fees and bonds to build new water tower
Summary
After a months‑long design effort, Parker council directed staff to pursue financing that pairs $3.0 million in utility impact fees with revenue bonds — and to apply for state grants — to build an elevated storage tank estimated at $7–8.5 million. Council said the project is time‑sensitive to restore water pressure.
Parker’s city council on April 21 directed staff to pursue detailed financing proposals to build a new elevated storage tank, approving a recommendation that combines utility impact fees with revenue bonds and seeks grant funding where available.
The council’s finance subcommittee and staff presented a range of options, including paying for the project with cash, bonds, or a mix; the recommended approach was to use $3.0 million in utility impact fees as a down payment and issue revenue bonds for the balance, pursuing grants where possible. Councilmember Pilgrim, who chaired the subcommittee, summarized the…
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