Crown Point residents have a chance to weigh in on a proposed sewer rate hike. A public hearing is set for January 9.
The increase has been discussed for months. Greg Guerrettaz with Financial Solutions Group says it would help the city keep up with rising costs, but it would also help Crown Point qualify for a State Revolving Fund loan for future improvements.
"The current interest rate is two percent. That's awesome because if we had to do it today on the open market, we could be four-and-a-half to five percent," Guerrettaz told the city council last week.
Crown Point has been planning to add a treatment facility to serve the area southeast of the city.
Guerrettaz said the city would contribute an estimated $5.5 million dollars toward the project, using a combination of American Rescue Plan money and cash from the wastewater utility. Lake County has committed $5 million, and the state would chip in another $5 million through a forgivable loan.
Ordinances for the rate hike and project financing will be up for final approval next month.