Arbor Valley Lake concerns trickle through CCRC meeting

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Beck

David W. Beck, executive director of Southern Iowa Resource Conservation and Development Area, had a chance to respond during the meeting.

Beck said he’s had discussions with the members of the Clarke County Board of Supervisors.

With concerns to funding, he’s talked to state and corporate officials.

“We’ve helped them understand how they can carry out a bond process for water supply, should they choose to do that,” Beck said. “They haven’t done that. CCRC hasn’t officially approached the board of supervisors on bonds.”

He said the public should understand revenue bonds, should the county choose to issue them, would be paid with revenues from the local-options sales tax.

“And, believe me, we’ve met with bondsmen and the local bankers, and they’re not going to let enough bonds get sold that we can’t pay with expected revenues,” Beck said. “They’re wanting 120 percent. … Basically, they’re only willing to loan about 80 percent of what our actual revenue stream would demonstrate that we should be able to pay for. It’s down to, essentially, 13 million dollars worth of revenue bonds. So, I believe we’re plenty safe. I don’t think that if the county issues revenue bonds it’s going to affect anybody’s property tax in anyway whatsoever. That’s not the intent, at all.”

According to a financial-plan status report made available at the meeting, $32.7 million of the project’s funding has been planned for. This is 92 percent of the funding.

Other possible sources include corporate sponsorships, stretching the installation period in order to accumulate cash from LOSST, general-obligation bonds, Rebuild Iowa Infrastructure Fund (RIIF) and private donations.

Why Squaw Creek?

According to Beck, the community made the decision between 10 and 12 years ago not to work in the Whitebreast Watershed, which is where Arbor Valley is located.

He cited reports from 1991 and 1996 that are commonly known as site-inventory reports. Water supply sites at Whitebreast and Squaw Creek were studied and Squaw Creek was the recommendation for the reservoir site.

Beck said another feasibility study on Arbor Valley could cost between $500,000 and $1 million. He made the recommendation to the CCRC board to stay on task with the current Squaw Creek Watershed project.

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