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Exeter to phase water, sewer rate increases to prepare for $40M+ surface water treatment plant
Summary
Finance staff told the committee it will phase rate increases over the next five to six years to prepare for the surface water treatment plant likely starting construction in 2029; total program costs were described as north of $40 million.
Finance Director Corey Stevens told the Budget Recommendations Committee that the town will implement water and sewer rate increases — the first since 2024 — to prepare for a major surface water treatment plant and associated capital work.
Stevens said the town plans to phase increases "over the next 5 to 6 years" so the impact on customers is gradual as the town prepares for surface water treatment plant construction, which he said is likely in 2029. He described total project costs as, in his words, "something something north of $40,000,000 when all is said and done."
Stevens said the town has been working with the Water and Sewer Committee to monitor reserves and projected capital costs and stressed the timing of borrowing (first borrowing anticipated in 2029) will be coordinated to avoid unduly large rate shocks for customers. Committee members asked follow-up questions about reserve levels and the timing of debt service impacts to the operating budget.
