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Yes, Town staff are actively pursuing every available option at both the state and federal level.
The Board of Trustees as elected representatives vote on whether to take on a capital expenditures municipal bond. The existing State Revolving Loan is a bond however it is not paid for with property tax and does not go to the voters.
The ballot initiative created through the citizens' initiative process outlined the use of potential tax. “Sec. 15-40 Purpose of tax. The Board of Trustees hereby declares that the purpose of the levy of the Retail Marijuana Sales Tax imposed by this Article is for raising funds for the construction of a new community or recreation center, and/or other general operating expenses as may be designated instead by the Town on an annual basis.”
A sinking fund is an account where money that is received prior to a payment is set aside to make future loan payments or retire debt. We are proposing a sinking fund so that the loan is paid off before another plant is needed. The goal is to avoid stacking debt.
Governmental accounting requires enterprise accounts to pay their own way. At the Town of Wellington, we have three enterprise funds: water, sewer and drainage.
An Enterprise Fund supports all its expenses through the revenues generated by the organization, like a private business enterprise. The cost of providing water and sewer services to our utility customers is recovered or financed through charges to the users of these services. These costs are paid entirely by current and future water and sewer customers. Although we operate like a private business enterprise, there is one key difference - we do not generate any profits. All revenue received goes to pay expenses. Balances in any account are utilized to meet current or future financial requirements.
YES! The Town has slowed growth from a 5-year average of 229 permits per year to 100 permits per year until the new plants are online.
An impact fee is a one-time payment imposed by the Town on a property developer. The fee is meant to offset the financial impact a new development places on public infrastructure. Public infrastructure includes roads, schools, parks, recreational facilities, water and sewerage, among other services.
Growth is currently being slowed to 100 permits per year to ensure there is a balance between needed funding and the ability to meet demand. The wastewater treatment plant expansion will service a population of approximately 25,000 and is estimated to come online in early 2024.
The wastewater treatment plant is currently at its built-out point, meaning it has lasted as long as it was supposed to last. The expansion is needed to meet compliance for current residents while also planning for future growth. New regulations imposed by the State of Colorado cannot be met with the capability of our current plant leading to needed improvements to continue operation for both current and future members of the Wellington community.
Yes, the regulations set by the State of Colorado are becoming more stringent and our current plant cannot treat wastewater to the upcoming standards. The project would look slightly different if future growth were to stop completely. However, rates would increase even further for current residents if growth were to end completely.
There are seasonal peaks, weekly peaks, and daily peaks. You can make a difference by using the water and sewer system off daily peak hours (9-11 a.m.) (5- 9 p.m.). When everyone uses water at the same time, the system is taxed as it beings operating toward maximum capacity. The growth rate is currently being slowed to handle the capacity for the next 3-5 years until phase 3 comes online in 2024.