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Boulder officials warn water rates likely to rise as city plans Phase 1 and 2 funding
Summary
City Administrator Brian Bullock told the council Aug. 19 the City will need to borrow and raise rates to finance Phase 1 and Phase 2 water improvements; the precise increase is not yet set and public hearings will precede any rate change.
City Administrator Brian Bullock told the Boulder City Council on Aug. 19 that financing required improvements for Phase 1 and Phase 2 of the municipal water system will likely require the city to borrow from the state and raise residential water rates.
Bullock said the city’s current water rate has not increased in more than 10 years and is low in comparison with similar systems. He described borrowing as likely necessary to pay for the upgrades and told council and the public that staff wanted to be transparent about the prospect of a rate increase. He noted a $20 increase had been mentioned as an example during the discussion but said the actual amount had not been determined.
Bullock emphasized that public hearings and community input will be scheduled before any formal rate change is adopted. Councilmembers and staff discussed the timing and the need to gather public comment and more detailed cost estimates before council takes action. No specific loan terms, interest rates, or final rate schedules were provided in the meeting minutes.
