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than it is because the budget is relatively small and therefore a minor amount can <br />show a large percentage change. Mayor Pro Tern Maloney asked why there wasn't <br />any central wide charges for storm water. Mr. Watson stated there is an allocation <br />for storm water butjust under a different basis and accounted for the Administration <br />program instead of a Central Charges program. <br />Mayor Pro Tern Maloney continued by commenting on how he appreciates the <br />work done on this Dashboard and thanked staff for the reports. Councilmember <br />Lipton echoed the sentiments and asked Mr. Kowar and Mr. Peterson what their <br />confidence level is on the data. Mr. Peterson stated the data is solid and explained <br />the challenges they were running into with the dashboard software and ended up <br />being some permission issues which have been resolved. Mr. Kowar confirmed <br />confidence in the data. Mr. Peterson did say that he wasn't able to include the first <br />quarter data in the packet but has it available to show if desired. Councilmember <br />Lipton asked for this at the next meeting and the Committee agreed. <br />VII. Windy Gap <br />Mr. Peterson began saying there was exciting news as a settlement was reached <br />on the legal challenges to the project. While there are cost implications, ending the <br />lawsuit allows for moving forward with construction. Northern District issued their <br />notice for participants in the financing that came out on May 4t", which triggers our <br />90 day review period for the final decision. This is a shorter response time than the <br />three months as stated in the Allotment Contract. The shorter one month spin <br />around is an attempt to mitigate escalating construction costs. <br />Updated financial information was provided to and reviewed by Jim Manire. <br />Projected interest rates remain unchanged and staff maintain the recommendation <br />to move forward with the Group Financing at the 20 year term. Mr. Peterson <br />updated the Rate Model with the latest projections which can be seen in the table <br />on Page 13. Project costs increased $2.2M bringing the total project cost to <br />$25.5M. Councilmember Lipton asked if the $2.2M increase will be over the 20 <br />term years. Mr. Peterson replied the majority will be over 20 years, but a portion <br />will be longer as the CWCB loan goes out to 2055. He went on to explain the <br />increase does not impact the current rate projections increase of 2% annually over <br />the next 10 years. Councilmember Lipton summarized that the strategy remains <br />the same with Group Financing, no cash down, so it's just a matter of adopting the <br />same strategy and move forward. Mr. Peterson said that is the intent. Mayor Pro <br />Tern Maloney made a motion to reaffirm the Committee's recommendation to <br />the preliminary commitment by City Council in the authorization of the <br />allotment contract to proceed with the Windy Gap Group Financing at the 20 <br />year term option and without an additional cash payment with the <br />understanding that this action does not required additional water rate <br />increases or further Council action. Councilmember Fahey second the motion. <br />Committee all agreed. Ms. Balser will give an update in the City Manager's report <br />to Council. <br />61 <br />