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Council questions developers' 50% contribution claim as financing models shift
Summary
Councilors said earlier ideas that developers would fund up to half of the sewer cost now look unlikely; members discussed using bonds, reserves or special districts and asked staff for alternate funding scenarios.
Several council members said earlier assumptions that developers would contribute up to 50% of sewer construction costs are now uncertain, and they asked staff for alternative funding models.
"We've talked initially about the developers contributing up to 50% of the cost. During today, developers don't wanna do that," Speaker 4 said, pressing staff on what happens if developers contribute 0% and the city must allocate the remainder.
Options discussed included issuing bonds, using a portion of the general fund reserve to loan funds at no interest, or creating a special sewer district to apportion costs more narrowly. Speaker 4 asked for concrete numbers and stressed "I need to see the numbers because I can't meaningfully tell you whether this is the right thing or the wrong thing to do."
