March 30, 2008 by president.

From the City of Rollingwood (printable copy):

Without rehabilitation of its aging water system, the City of Rollingwood (the “City”) will not be able to guarantee adequate water pressure in the future to protect your home or deliver a safe and adequate water supply for household and irrigation use.

As a result, the Rollingwood City Council is preparing to authorize the issuance of a series of certificates of obligation to the Texas Water Development Board (the “TWDB”) in order to finance the first two phases of required repairs to and rehabilitation of the City’s aging water system. These phases will complete a loop of the water system on the east side of the City, which will allow re-establishment of two pressure zones. The repairs will also include the installation of pressure relief valves and the replacement of certain lines that are substandard in terms of size and/or materials.

• The failure to make the proposed repairs could result in significant fines from the TCEQ in the future.
• This project will not involve the LCRA.

The proposed certificates of obligation will be issued to the TWDB in order to evidence a $2,350,000 loan from the TWDB. The City may repay the loan from ad valorem taxes, the revenues of the City’s water system, or a combination of taxes and revenues. The TWDB loan is being offered to the City under the Drinking Water State Revolving Fund loan program, which provides interest rates that are lower than market rates. The proposed sale of certificates of obligation to the TWDB was chosen by the City Council because it offers the least expensive method of paying for the needed improvements to the City’s water system. In addition, the TWDB program has built in constraints and cost management oversight. The project scope can be reduced, but the amount of money approved for the project by the TWDB cannot be increased.

• The cost of the first two phases of the project will be approximately $282.00 per connection per year.
• By way of comparison, the cost of repairs to the City’s water system in 2006 was $34,291. In 2007, the cost of such repairs was $62,625 or $106 per connection. There were over 20 main line breaks during the past year.

For further information on the proposed financing, contact City Hall at 327-1838 or visit the City’s website at cityofrollingwood.com.

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March 30, 2008 by president.

From 3/30 Austin-American Statesman:

Rollingwood comes of age — in a big way

New sewer system has gotten the ball rolling on Rollingwood redevelopments

By Alexandra Richmond
SPECIAL TO THE AMERICAN-STATESMAN
Sunday, March 30, 2008

It perhaps surprised no one when Gary Keller, the chairman of Keller Williams Realty, bought two lots in Rollingwood, razed the existing houses and built a 7,700-square-foot Italianate estate for his family in 2004.

He could have gone anywhere in the Austin area. But Rollingwood, with its safe, shaded streets and brief commute to downtown, is a hot spot for rebuilding.

…Read the whole article

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