Residents have until June 18th to confirm with the Municipality of Bluewater how they’d like to pay their share of Zurich’s new water line.
Manager of Finance Maggie McBride elaborated on three payment options, including full payment, partial prepayment in various increments, and adding the full cost to property taxes over 20 years.
The options are as follows:
- Pre-pay 1/4 of the total, at $2,965.03
- Pre-pay 1/2 of the total, at $5930.06
- Pre-pay 3/4 of the total, at $8895.08
- Pay the full amount of $11,860.11
- Debenture the full amount against the property, and pay back $963.00 per year, for 20 years (with a full cost of $19,260.07)
McBride says that payment structures are something that Bluewater is familiar with.
Aging water infrastructure made it necessary to replace Zurich’s water supply. The project has been in the works since 2019, with several public surveys, meetings and costing proposals being presented to the public. Partnering with the county saved costs, especially since the new infrastructure required road excavation under the main road connecting to Hensall – which is a county road.
Final invoices on the road works and water improvements were received up until May 2024, allowing the total cost to be calculated for all current users. Remarkably, the project came in just under budget.
Interest rates posed a concern as the municipality financed the project through a loan with Infrastructure Ontario. Rates rose during the project but have since stabilized between 5.1% and 5.3%, reducing debentured costs to users.
Residents have been given a variety of flexible payment options, and can choose to pay in full or in installments, with the majority of respondents that have indicated their preference so far preferring to debenture the value against their property at just under $1000 a year.
Feedback has been mixed, which is expected. Many residents appreciate the long-term benefits, such as reduced maintenance on appliances and improved water quality. However, some new residents may not have received all the information distributed throughout the project, and experienced some sticker shock when they recieved their notice in the mail.
When it comes to public feedback, the Municipality is extremely happy with the high community involvement levels seen throughout the process.
Residents are encouraged to maintain open communication with staff and local councillors to address any concerns, or to have their questions answered.
Again, you have until June 18th to submit your choice to the municipality, any residents that do not submit their information prior to that deadline, will default to a 20 year debenture.
Written by: B. Shakyaver
