More details emerge on Angler plan
By Jason Peck
Culpeper Utility Partners has a verbal agreement for the financing of its $100 million proposal for a water and sewer system, project manager Steve Vento said.
Without the project being completely financed, CUP cannot begin construction. With it, Culpeper would be safe from harm, claimed Vento.
"Let's say you go away," Supervisor Steve Nixon said to Vento at the Tuesday, June 3, county supervisors meeting. "You have a heart attack, everybody in the business has a heart attack and we're left with this project. Is the money going to be there for us to finish?"
"One hundred percent (of the money)," Vento replied. "I can't put a shovel in the ground until I have financing for it."
The proposal has a July deadline, said Vento.
If approved, Vento said the plan could lead to job growth and more control over development. Opponents say that the plan would only lead to more growth, and leave the county with millions in debt.
The company Angler Development heads the partnership, which includes companies such as John T. Hazel, Angler Environmental and Dewberry and Davis.
If approved, the companies would construct a complete water and sewer system for the county, including: two pump stations, one wastewater treatment facility and miles of lines.
The project would then be paid for through tap fees – charges that consumers pay for access to the water and sewer system. Vento identified three different types of fees, including:
Sewer line access fees, estimated at $17,595 apiece. That would include all the taps into Angler's sewer line.
Waster water treatment plant access fees, worth $5,625 apiece. This would cover much development around the airport, said Vento.
Water taps fees, estimated at $7,187 apiece.
In addition, tap fees would increase each year by 5.5 percent for the next 25 years. Vento said that rate came from examining 25 years of prices. In addition, Cup would make no profit until the bond holders were paid off.
CUP officials say that their growth projections come from existing zoning, although Vento said the plan does not account for the technology corridor, where businesses attracted by Terremark Worldwide's facility would settle.
Vento spent Tuesday morning convincing county supervisors that CUP's proposal would not hurt the county financially.
In particular, he claimed that the company had already secured approximately 1,035 taps from local landowners by offering them a 10 percent discount. Vento predicted that he would have more than 2,000 commitments if a comprehensive agreement were signed.
Although supervisors appeared comforted by new information, many raised questions about the project. In particular, one detail would have the county making up for any shortfalls from the years 2011 to 2016.
"More jobs would be great," Supervisor Tom Underwood (Salem District) said. "It's just discussion needs to begin over the implications and practical aspects."