The replacement of the Lime bed above the North Fork springs has been completed. LPC is closely monitoring the testing to ensure the PH level is acceptable with the Division of Drinking Water.
Booster Pump Project (announced during the Annual Shareholders meeting in April) update:
LPC has received final approval for funding from the Bureau of Reclamation for $1,547,700. LPC will be required to match this amount dollar for dollar. To date, the estimated completion cost of this project will be $5,422,000, however, the board is working with the JUB engineers to determine if costs can be decreased.
In the event that it is necessary to borrow funds to complete the project an addition loan for funding is available. The Department of Natural Resources has authorized the project to construct a booster pump and transmission line and to replace the current distribution line. They will provide 60.8% of the project cost, up to $3,293.000, which the company will return to the state at 2.95% interest over 30 years, with annual payments of approximately $167,000. LPC is currently responding to a list of requirements that need to be accomplished before committal of funds. One of these requirements include implementing a progressive water rate schedule. LPC board members have worked hard to keep rates down, however, rates will need to be increased to complete the needed repairs of this project and to ensure our water system can adequately deliver water to all of our shareholders.
LPC will not be selling any new shares of water until all Class C shareholders have had an opportunity to connect to the systems and the Booster Pump project is completed.