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Richmond Drive residents press Monroe council on water tie-in financing and timeline
Summary
Several Richmond Drive residents urged the Monroe Town Council to advance a proposed water tie-in, presented a petition of support and raised concerns about a finance director opinion that residents would face compounding interest on a 10-year payback.
Residents of Richmond Drive urged the Monroe Town Council on June 8 to move forward with a water connection project and asked the council to protect homeowners from what they said would be burdensome repayment terms.
Dustin Holtz, a Richmond Drive resident, presented a signed document from 11 of 14 neighbors asking the council to continue the project process and requested a clear timeline. He said previous guidance from town staff suggested residents might have to repay town borrowing over 10 years with compounding interest, which he said could increase costs by more than 50% compared with not tying into the town system. “I have a signed document here from 11 out of 14 neighbors that would like to continue moving forward,” Holtz told the council.
Other residents echoed the request for timely action. Susan, a Richmond Drive resident, called the decision “a huge decision that all the residents on Richmond Drive have to make” and expressed frustration that some neighbors have not engaged since a January subcommittee meeting. Mike Srano said the neighborhood has water-quality problems (high iron content) and that he spends about $1,500 a year maintaining a private treatment system; he urged the council not to delay.
Council Member Duva said a subcommittee meeting is required by ordinance before the subcommittee can vote to advance a recommendation to the full council. Council members discussed ensuring the subcommittee has enough information to make a recommendation, and noted a referenced bonding estimate of roughly $500,000 for the project may require Board of Finance input before final decisions on financing. Members asked subcommittee members to contact homeowners directly and to prepare a proposed timeline for next steps, whether that is a recommendation or a request for more information.
The council did not adopt any financing decision at the meeting; members said the subcommittee will meet to consider whether it has sufficient information and will consult the town attorney and finance director as needed.
