[Papa_lecki]

Originally Posted by tophcfa

There is the answer, the Utility overpaid when purchasing the assets. Someone has to pay for that mistake, and that someone is collectively the customers of the utility.

Since it’s a fact (because its in TOTV) that the utility overpaid, it would be helpful to know the following:

What was the purchase price?
What was the fair market value?
How was FMV calculated?

[Bill14564]

Originally Posted by Papa_lecki

Since it’s a fact (because its in TOTV) that the utility overpaid, it would be helpful to know the following:

What was the purchase price?
What was the fair market value?
How was FMV calculated?

That information is probably part of the xxxUDD (EDIT: Should be WUDD, not what I originally wrote) minutes from the time when they were purchased. The minutes are available from the districtgov.org site; you can search by date but I don't know if there is a way to search by keyword.

[twoplanekid]

Originally Posted by Bill14564

That information is probably part of the NSCUDD minutes from the time when they were purchased. The minutes are available from the districtgov.org site; you can search by date but I don't know if there is a way to search by keyword.

Not NSCUDD but WUDD as found on the Districtgov.org

Public Portal • CivicClerk[

look beginning on page 64 of the agenda packet for November 10th meeting

" The opportunity for WUDD to purchase SEWWCA, LLC will give local oversight to the utility that serves the local community. The local oversight provides for local decision making and rate setting instead of the Public Service Commission in Tallahassee.

Some conditions of the Purchase and Sale Agreement:
1. Purchaser shall have a period of sixty (60) days from the Effective Date to
conduct their own investigations of the Purchased Assets.
2. Within ten (10) days after the Effective Date, both Purchaser and Seller
shall retain at their respective expense a valuation firm and notify the other
party of their selection. The preliminary valuation is to be completed no
later than thirty (30) days from the date of the agreement.
The Seller and Purchaser agree that if the lesser of the two Preliminary Valuations is not greater than 5% less than the higher Preliminary Valuation, then the Purchase Price shall be established at the lesser of the two Preliminary Valuations. If the lesser of the two Preliminary Valuations is greater than 5% lower, but not greater than 10% lower of the higher of the two Preliminary Valuations, the Purchaser and Seller agree that the Purchase Price shall be established at the average of the two Preliminary Valuations. "

and they always say this -> page 236
"The District believes the existing Utilities’ rates are very favorable to other nearby facilities (attached Exhibit “D”) especially when considering that the Utilities’ facilities have all been built in the last six years. The Utilities’ rates will remain the same through such time of the Rule adopted by the District indicating any change or determination of fees.

[Bill14564]

Originally Posted by twoplanekid

Not NSCUDD but WUDD as found on the Districtgov.org

...

My apology. I attended part of the NSCUDD meeting yesterday and had that in mind when I read the question. I should have remembered that this thread is about the area south of 44 which is under the WUDD as you point out.

[CoachKandSportsguy]

Originally Posted by Sevans1929@gmail.com

The post is correct. Water was $1.79 per 1000 gal. It was raised to $6.14 per 1000 gal. Sewage was $4.89 per 1000 gal. It was raised to $7.19 per 1000 gal. These numbers are for the first 3000 gal. The water base rate was $9.25. It was raised to $10.87. An average water bill should go up less than $25.00. My bill indicates this applies to the villages of Fenny and Desoto.

Thank you for the clarification and actual data. . .

[twoplanekid]

Originally Posted by Bill14564

My apology. I attended part of the NSCUDD meeting yesterday and had that in mind when I read the question. I should have remembered that this thread is about the area south of 44 which is under the WUDD as you point out.

I thank you for attending the NSCUDD meeting. The meeting went from 3PM ending at 6:30PM

[CoachKandSportsguy]

Originally Posted by twoplanekid

Wildwood Utility Dependent District purchased the utility systems from the developer.

Was the entity sold at a fair price,?

Doubtful when you have a monopoly corporation. . . monopolies always get higher prices