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The Buena Vista Board of Trustees will hold their next regular meeting at 7:00 p.m. on Tuesday, March 8, at the Community Center, located at 715 E. Main Street. Town staff and the public are encouraged to attend the meeting virtually. Details to call into the meeting can be found on the town’s website and in the meeting agenda.

Among the meeting’s business items are financing for the new police station, the town’s water rate study from Wright Water Engineers (WWE), and a resolution to reserve and obligate Single Family Equivalency Units (SFEs) of water for future growth.

The Board will consider a staff recommendation to select Collegiate Peaks Bank to finance the Police Station construction project. The town is planning to finance $2.5 – $3 million, with a full-year debt payment for $3.15 million over 15 years at 2.75 percent included in the town’s 2022 Budget. The board’s decision will not restrict the Town but will allow them to move forward in finalizing financing terms. The Board will approve financial documents in June.

Graphic courtesy Colorado Springs Business Journal

After last week’s work session on the draft water rate study, the board will be discussing accepting the water rate study done by WWE. The recommended water rate structure will come back for future consideration by the board. The study covers the town’s projected growth and changes from 2022 through 2028. In the study, a decrease in new SFEs would reduce revenue as well as expenses.

The board will also consider a resolution to obligate certain SFEs to specific areas of town and to place a portfolio reserve on SFEs of water in use. In the February 8 work session on water strategy, the board of trustees requested recommendations for obligating certain SFEs to particular development and to bring back an idea on setting a buffer for SFE allocation in the Town.

The board also previously requested that the Town establish a buffer of dry-year SFEs.

Courtesy of the Town of Buena Vista.

 

The town’s current dry-year water supply can accommodate an average peak seven-day demand of 2,511 SFEs, with 2,020 SFEs (81 percent) currently in use or appropriated to specific developments.

The board will also have a 6:00 p.m. work session on the Historic Preservation Commission’s Architectural Design Guidelines. No decisions will be made during the work session.

For more details, including the meeting information packet and Zoom details, visit the town’s Agenda Center.