Mayor Graham Richard today announced a recommendation to delay an increase in the solid waste fee for one year. This plan would save each individual ratepayer $12 in 2006.
A $2.5 million increase in county option income tax (COIT) revenues has allowed the City to develop a plan to use the additional funds to benefit residents.
Mayor Richard proposes transferring the $2.5 million to the Rainy Day Fund. The City then would appropriate the funding in the following manner.
* $1.25 million to remain in cash reserve
* $875,000 for a one year delay of solid waste fee increase
* $375,000 for the City Utilities Relief Fund to assist customers with paying City Utilities bills ($75,000 to be used per year for five years)
“This is a fiscally conservative plan that will help ratepayers by reducing the solid waste fee,” said Mayor Richard. “This approach will protect ratepayers and help maintain an important cash reserve.”
The administration will present the proposal to City Council at council's November 8 meeting.