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Here’s a follow up on the blog post I did about the Los Osos sewer and the $25,000 per home assessment as reported in the Trib. This is from my Los Osos team member…

The Scenic Coast MLS had a meeting a few weeks back in which Bruce Gibson, the county Supervisor and Paavo Ogren- the Project Manger updated us as to what was occurring. According to our meeting, the project would likely be funded by state revolving funds which would be repaid over a 20- year period. The $25,000 per household assessment could, therefore be re-paid on a monthly basis over 20- years which would be approximated at $150/month. The cost to operate and maintain the sewer- once operating,would be approximately $50/month. Therefore- the monthly estimated cost to each homeowner would be approximately $200/month. If we are able to secure better financing and the cost to build a sewer is lower than the estimate, the monthly cost could be as low as $100/month, however- if the cost of the project is more than currently estimated, the overcharge would be passed on by via a higher monthly operating fee- bringing us to the higher range estimate of $275/month.

In the article- the author also stated the each household would be assessed $25,000 PLUS a monthly fee ranging from $100-$275. (Not so- the fee range includes re-payment of the $25,000 assessment). Also she quoted a 30 year bond repayment and as legislation now stands, repayment must be within 20 years.

Written by Keith Byrd - Go to Keith's Website/Profile