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<br />::ø- d' <br /> <br />costs of the Recycled Water Project - Redwood City water rates and service charges will <br />rise significantly, driven primarily by the projected 300%+ increase (vs. a projected 280% <br />increase described in the 2004 Plan) in the wholesale cost of drinking water over the next <br />ten years, as the San Francisco Public Utilities Commission repairs and strengthens the <br />Hetch Hetchy regional water system. However, as the 2004 Financing Plan pointed out, <br />the potential rate increases without the project could be higher than with it. In addition, the <br />increased revenues will be expended on a new water supply and distribution system that <br />will last for 50 to 80 years, far beyond the 30-year debt service period. Finally, all water <br />customers will have a much more reliable water supply by 2010 - and well beyond - to <br />ensure that this essential resource is sustained for future generations. <br /> <br />Peter Ingram <br />Director, Public <br /> <br /> <br /> <br />Attachment <br />Water Financing Plan - 2006 Update <br /> <br />3 of 3 <br />