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One
of the major reasons the Wake Forest
commissioners voted for Raleigh to take
possession of the town’s water and sewer
systems was lower rates for town
customers.
But those customers continue
to pay Wake Forest rates while the town
pays off the estimated $19 million in
merger charges, which include $3 million
for an additional 3 million gallons of
water capacity and a number of
construction projects and system
improvements. At the time of merger, the
estimate was the cost would be paid off
in 2010.
Thursday, however, during
the Greater Wake Forest Economic Summit,
Mayor Vivian Jones said that date may
move up. “We’ve been paying it off at a
faster rate than we predicted. We feel
very confident the transition date will
be prior to 2010.”
The customers and developers
are paying the $19 million. The
difference between Wake Forest’s water
and sewer rates and Raleigh’s rates are
credited toward the merger cost, and all
the development fees for new water and
sewer connections are paid to Raleigh.
Town Manager Mark Williams says the
first accounting will be made later this
spring.
Merger took place on July 1,
2005. For at least two years, the town
board had debated and heard experts,
trying to decide whether to merge or to
expand the water and sewer systems.
The mayor also talked about
some of the activities in and around
town, including the two future
north-south streets, Heritage Lake Road
and Franklin Street; the roundabouts and
median on Franklin Street that will
provide a major entrance into downtown;
the North White Street sidewalk and the
North Loop “which will have a big impact
on the northern side of town:” and the
new town hall, downtown streetscape and
signs.
Those last represent between
$10 and $15 million. “That’s a huge
public investment for a town our size.
It represents a major commitment on the
part of the town board to keep our
downtown a focus to maintain our
small-town charm.”
Tina Archer, downtown
manager for the Downtown Revitalization
Corporation, a sponsor of the summit
with the Wake Forest Chamber of
Commerce, spoke about the several
programs the DRC has underway or plans.
“We now have a database for all downtown
properties,” Archer said. She astonished
the audience by saying there are 131
downtown businesses.
During the busy morning,
Gary Lyons with Sperry Van Ness gave an
overview of economic development. His
assessments locally were that the
grocery market is saturated while retail
shop space has struggled to keep up, and
there will be substantial development in
the office area. |
