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<br />B <br /> <br /> <br /> <br />nunr.n nn~n.n..n.~""" <br /> <br /> <br /> <br />W <br /> <br />BARTLE WELLS ASSOCIATES <br /> <br />1889 Alcatraz Avenue <br />Ber keley / CA 94703 <br />510 6533399 fax: 510 653 3769 <br />e-mail: bwa@bartlewells.com <br /> <br />INDEPENDENT PUBLIC FINANCE ADVISORS <br /> <br />December 21, 2004 <br /> <br />Redwood City <br />Public Works Services Department <br />1400 Broadway <br />Redwood City, CA 94063 <br /> <br />Attention: <br /> <br />Peter Ingram, Public Works Services Director <br /> <br />Subject: <br /> <br />Water Financing Plan - 2004 Update <br /> <br />Bartle Wells Associates is pleased to submit the attached Water Financing Plan - 2004 Update. <br />Key elements of the plan include: <br /> <br />. <br /> <br />Development a long-term financing plan for the City's water enterprise to ensure adequate <br />funding for operating and capital programs while maintaining the long-term financial health <br />of the water enterprise. <br /> <br />Recommendations for financing the City's Recycled Water Project Alternative 'TF' and an <br />aggressive conservation program, as unanimously recommended by the 20-member <br />Community Task Force on Recycled Water in the spring of2004. <br /> <br />. <br /> <br />. <br /> <br />Determination of annual water enterprise revenue requirements and proj ected water rate <br />adjustments. Proposed rate adjustments are phased in to the extent possible over the 10-year <br />planning period to minimize the annual impact on ratepayers. <br /> <br />Identification of policy issues for consideration during implementation of the financing plan. <br /> <br />. <br /> <br />The City should update the financial projections annually to ensure future rate adjustments are <br />adequate to meet the water enterprise's long-term revenue needs. Underlying policy, water <br />demand, financing, and cash flow assumptions are detailed on the report tables. <br /> <br />The findings and recommendations presented in this report were developed with a substantial <br />amount of input from City staff, Kennedy/Jenks Consultants, and the City Council's Utilities <br />Committee. We enj oyed working with the City on this assignment and appreciate the <br />cooperation and assistance we received from City staff throughout the proj ect. <br /> <br />Very truly yours, <br /> <br />BARTLE WELL S AS SOCIA TES <br /> <br />OA. ~~/~-- <br /> <br /> <br />z <br /> <br /> <br />Alex T. Handlers, CIPF A <br />Vice- President <br /> <br />Thomas E. Gaffney, CIPF A <br />Principal <br />