HOW MUCH WILL THE PROJECT COST?
The total cost for the Willamette Water Supply Program is currently estimated at more than $1 billion.
HOW WILL THE PROJECT BE PAID FOR?
Policymakers for both utilities are committed to keeping rates affordable for customers and are using a combination of methods to fund the project:
- Cash reserves—money that has been saved to pay for the project.
- Borrowing money—repaid by customers over an extended period, so future water customers share the cost.
- Current customer rate increases.
- System development charges paid for by new development.
ARE CUSTOMERS INFORMED aBOUT RATE INCREASES?
TVWD’s elected Board of Commissioners and the Hillsboro Utilities Commission vote to set rates. Customers are notified in advance of proposed rate increases, to provide an opportunity for public comment. Learn more: Hillsboro / TVWD
HOW WILL PROJECT COSTS BE MANAGED?
Cost management includes an effective strategy, disciplined execution, and steadfast partnerships to enable and ensure the highest possible level of quality, reliability and productivity at the lowest overall cost. The main sponsors, TVWD and Hillsboro, also have a track record of responsible stewardship of customers’ dollars. Mark Knudson, CEO of managing partner TVWD, promises, “We will squeeze every dime possible out of the Program cost.”
ARE THERE OPPORTUNITIES TO PARTNER WITH OTHER WATER SUPPLIERS?
TVWD and Hillsboro save money through effective planning with other water supply partners. Several other water suppliers participated in the Willamette Water Supply preliminary design and are considering the opportunity to join the Program in the future to meet demand and improve reliability.