If the Vero Beach City Council signs off on a newly completed rate study in June, city water, sewer and reuse irrigation water customers can expect to pay roughly 47 percent more in monthly utility bills by 2030.
Rate consultant firm Raftelis gave the Vero Beach Utilities Commission a first look at the study earlier this month. Though the all-volunteer advisory commission has not yet voted to recommend rate increases to the city council, the hikes appear to be a foregone conclusion.
Vero needs bond financing to build the city’s $164 million “One Water” plant at the airport. It must show bond issuers sufficient future revenues to support not only that project debt but also day-to-day utility operations, maintenance of assets, emergency reserves, and compliance with evolving environmental regulations…