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ATTACHMENT E <br /> <br />It is important to note that the EWEB Board has not approved the design estimate <br />or the overall construction estimate. It is expected the design estimate will be <br />approved by the Board when they authorize staff to execute the project design <br />agreement (currently scheduled in June). It is expected a final estimate for the <br />total construction cost will be approved by the Board when they approve the bond <br />authorization request for the construction financing (currently scheduled for late <br />summer of 2007). <br /> <br />3. What is the potential rate impact of the $8 million request? <br /> <br />An $8 million bond issue would result in approximately $600,000 per year in debt <br />service (principal and interest), which equates to somewhat less than a 0.4 percent <br />impact on electric rates on an annual basis. <br /> <br />A rate increase may not be necessary to cover these additional costs. Prior to any <br />decision to adjust rates to cover these costs, the Board will factor this amount into <br />planning for the 2007 budget and determine if other utility costs would be <br />adjusted or if this debt service amount would be included in a future rate action. <br /> <br />4. Please provide more information on EWEB’s plan for the existing downtown site. <br /> <br />The conceptual design for relocation assumes some remodeling at EWEB’s <br />existing headquarters building to upgrade certain building systems and to <br />accommodate rearrangement of administrative and customer functions remaining <br />downtown. <br /> <br />For the remainder of the EWEB downtown site, EWEB will initiate in 2006 a <br />planning project (the “Riverfront Site Planning Project”) (estimated cost: <br />$110,000) to comply with guidelines set forth in the adopted Eugene Downtown <br />Plan. Steps in this work will include clarifying boundaries of the Downtown <br />Renewal District, identifying possible lot line adjustments and easement <br />locations, identifying applicable Metro Plan land use designations, determining <br />possible zoning, and determining how best to meet all City planning <br />requirements. This plan will be reviewed with and ultimately approved by the <br />EWEB Board. <br /> <br />This process will also rely on EWEB Board goals (adopted in 2000) for <br />redevelopment of the riverfront site; those goals include (1) protecting the riparian <br />edge, (2) maximizing operational efficiencies, and (3) minimizing rate impacts for <br />EWEB customers. <br /> <br />Completion of the plan is scheduled for November 2007. <br /> <br /> <br /> <br /> 3 <br />