Valuable Water Agreement Approved

During the Board of Trustees meeting on Wednesday, March 30, 2022, the Board approved a water dedication agreement with the future developers of Vistosa, a proposed residential development located at the northeast corner of Firestone Boulevard and Frontier Street. 

This important agreement is another example of the 2020-2050 Water Action Plan in motion and the Town requiring growth and development to pay its way.  This year, with this agreement alone, the Town will see $8.075 million in new revenue for the water enterprise fund.  In addition, as Vistosa is developed, the Town expects to see over $12.5 million in future tap fee revenues.  That’s more than $20 million in revenue to the Town’s Water Fund from this project alone. 

This agreement is another example of how new growth – not current residents – will pay for the debt associated with the Water Action Plan. These agreements, and others, will generate revenue that will pay for the debt related to the Water Action Plan. While at the same time, the entire community will see the benefits from the diversity in our water supply, enhanced treatment and distribution, and redundancy in times of emergency.   
 
For more information on the Water Action Plan and other water initiatives, visit https://www.firestoneco.gov/617/Water-Initiatives-Partnerships.