Discovery Bay Offers Water Meter Installation Payment Option Update

4

At the April 18, 2018, regular Board Meeting of the Town of Discovery Bay, the Board of Directors received public comment on the Water Meter Installation Payment Options.  The Board has determined that further consideration is needed to address the options available for Water Meter Installation Payments.

The Board will further consider the Water Meter Installation Payment Options at the next Regular Board Meeting on May 2, 2018 at 7:00pm.

Sample of Bond Interest Payback Scenarios

Prior to the meeting, Town staff will be regularly updating the Town’s Water Meter Installation Cost and Billing Frequently Asked Questions information sheet on its website. Staff will continue to respond to phone inquiries as expeditiously as possible and appreciates your patience as staff works through calls received.

This month, residents were hit with a water meter bill and were given two options of how to pay. The construction began back in February of 2017 and according to the Town of Discovery Bay website, as of December 31, 2017, a total of 3,496 meters have been installed.

A letter (dated April 13) was sent to home owners informing them of their Water Installation Bill stating the project was complete and the cost to each water meter was calculated based on specifications of the installation of the meter(s) at each specific property.

Residents were given two options:

  • Option 1: Pay the cost of the meter installation in full and received by the Town on or before May 15, 2018, or:
  • Option 2:  Finance the cost of the meter installation, with interest, over a ten-year period billed on your monthly water utility bill. Please note that the exact amount of interest cannot be determined at this time, because bond interest is shared among the number of financing (Option 2) participants.

Prepayment after May 15, 2018 will not avoid or offset the full amount of interest due

The Town’s Water Meter Installation Cost and Billing Frequently Asked Questions, can be found at https://www.todb.ca.gov/sites/main/files/2018-04-16_revised_water_meter_installation_faqs_rev_041618.pdf.

SHARE

4 COMMENTS

    • Get informed before you make dumnass comments.

      Discovery Bay residents have been paying seperate water fees $75 to $100 per month regardless of usage on their property taxes for decades.

    • Get informed before you make dumbass comments.

      All Discovery Bay property owners have been paying seperate water fees $75 to $100 per month regardless of usage on their property taxes for decades.

    • Get informed before you make lame comments.

      All Discovery Bay property owners have been paying seperate water fees $75 to $100 per month regardless of usage on their property taxes for decades.

Comments are closed.