INC NEWS - Third Fork Creek Correction

[RW Pickle]

Last week when I sent an email relative to this subject, I mentioned
something that was coming that we have never seen before, $200M of storm
water bonds to clean up the tributaries to Jordan Lake. I had an update
just now as to the cost and time line.

Today, that cost has risen to $346M. It is expected, that before the plans
actually get implemented, it will be at a half of a billion dollars. This
would make it the largest municipal project in the history of our
community. The time we have to do it in... 10 years.

So even if we just look at the bonds to do this with, that'll be more than
$50M worth of them a year (if we get started tomorrow...). As of now, it
is unfunded, yet mandated by the State (if we are to use Jordan Lake as a
water supply; which is in future plans).

It's like I said in the last email, we're just short in a lot of ways
right now. But the good news is that the new City Manager hails from FLA
which is the leader in the South East in creatively dealing with storm
water issues. NC is probably second, but he still may have a trick up his
sleeve to help get us by. We can only hope...

RWP
27 Beverly