Monday, December 31, 2007
Wall 7 completed & wall 8 formed
Here is wall 8 formed up. There is 1 more wall to go, but they have to finish everything on the inside so they can remove the equipment, before closing the loop.
Taken 2007-12-30
Wall 7 Formed up
Friday, December 21, 2007
Wall 6 Formed up
Wednesday, December 19, 2007
Wall 5 completed
Monday, December 17, 2007
Friday, December 14, 2007
View contrast
Thursday, December 13, 2007
Wall 3
Wednesday, December 12, 2007
Tuesday, December 11, 2007
Monday, December 10, 2007
Friday, December 7, 2007
Thursday, December 6, 2007
Sonoran News article
A new article published today documents the $5.5million loan application that was authorized by the Cave Creek Town Council, intended for capital improvements.
Council also voted unanimously to approve a resolution authorizing the application for a new Water Infrastructure Finance Authority Loan (WIFA) in the amount of $5.5 million, which Marlow stated is to increase the water system’s capacity and redundancy.
Although the $5.5 million was budgeted, Abujbarah said the town would be coming back to council for an additional $5 million.
Jay Spector, former executive director of WIFA, now with the Wall Street investment banking firm RBC Capital Markets, has remained involved with putting together the town’s financing packages.
He explained to council the authorization is different than that which was previously approved and obtained in 2006, but the loan would be structured the same.
Although they will not know the interest rates until the Wednesday before closing, Spector said it would be discounted 15 percent and said it could be around the same rate as their existing loans.
Spector stated some adjustments were made from CH2MHill’s previous calculations, based on the town terminating its contract with Arizona American and said, “There’s more than enough revenue to pay for both loans.” Council voted unanimously in favor of authorizing the application for the loan, with some council members stating, “because it is only approving the application,” while they all stressed they would have liked to have seen the revenue reports and asked for copies before the loan comes back to council for approval.
During public comment Charles Spitzer said, “The public authorized $50 million.” Citing it was now $72 million for a town of less than 5,000, Spitzer asked, “When will it stop? When will the town have some fiscal responsibility?” Councilwoman Grace Meeth commented, “We knew the system was decrepit when we bought it.” Francia pointed out that WIFA does not allow any “wiggle room” as conventional financing might and said, “Either you have the revenue or you don’t.”
Council also voted unanimously to approve a resolution authorizing the application for a new Water Infrastructure Finance Authority Loan (WIFA) in the amount of $5.5 million, which Marlow stated is to increase the water system’s capacity and redundancy.
Although the $5.5 million was budgeted, Abujbarah said the town would be coming back to council for an additional $5 million.
Jay Spector, former executive director of WIFA, now with the Wall Street investment banking firm RBC Capital Markets, has remained involved with putting together the town’s financing packages.
He explained to council the authorization is different than that which was previously approved and obtained in 2006, but the loan would be structured the same.
Although they will not know the interest rates until the Wednesday before closing, Spector said it would be discounted 15 percent and said it could be around the same rate as their existing loans.
Spector stated some adjustments were made from CH2MHill’s previous calculations, based on the town terminating its contract with Arizona American and said, “There’s more than enough revenue to pay for both loans.” Council voted unanimously in favor of authorizing the application for the loan, with some council members stating, “because it is only approving the application,” while they all stressed they would have liked to have seen the revenue reports and asked for copies before the loan comes back to council for approval.
During public comment Charles Spitzer said, “The public authorized $50 million.” Citing it was now $72 million for a town of less than 5,000, Spitzer asked, “When will it stop? When will the town have some fiscal responsibility?” Councilwoman Grace Meeth commented, “We knew the system was decrepit when we bought it.” Francia pointed out that WIFA does not allow any “wiggle room” as conventional financing might and said, “Either you have the revenue or you don’t.”
AZ Scottsdale Republic article
A new article appeared yesterday about the decision by Cave Creek to not renew the contract with American Water for management of the CC and Desert Hills water companies.
Wednesday, December 5, 2007
Wall 1 cont'd
Tuesday, December 4, 2007
Links
Here are some additional links to Cave Creek Town Council minutes.
This one describes the initial meeting where more than 20 people spoke out against the tank at the Call To Public Link
This one describes the special session held for the express purpose for the Water Utility to present to Town Council and the public on the status of various projects. There was a question/answer session done where the public could ask questions directly to the Water Utility officials.
What's odd about the previous two links is that, until citizans complained to Town Hall, the voted upon session limits were not available on the web. Within 2 hours of pointing this out, they were posted.
This one describes the agreement with a developer and the Desert Hills Water Company for joint well and storage for a single development. It is feared that this is the model that will be used to extend Cave Creek Water supply to Gold Mountain Development on Continental Mountain.
This one describes the initial meeting where more than 20 people spoke out against the tank at the Call To Public Link
This one describes the special session held for the express purpose for the Water Utility to present to Town Council and the public on the status of various projects. There was a question/answer session done where the public could ask questions directly to the Water Utility officials.
What's odd about the previous two links is that, until citizans complained to Town Hall, the voted upon session limits were not available on the web. Within 2 hours of pointing this out, they were posted.
This one describes the agreement with a developer and the Desert Hills Water Company for joint well and storage for a single development. It is feared that this is the model that will be used to extend Cave Creek Water supply to Gold Mountain Development on Continental Mountain.
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