June 24, 2008

County Releases Financials on Angler Water, Sewer Deal

By Allison Brophy Champion, Culpeper Star-Exponent, Va.

Jun. 24--Culpeper County government revealed new money details on its Web site Tuesday afternoon regarding Angler

Development's proposal to build a water and sewer system around the town.

To this point, the section, "Tab 4," was kept private, but as the deadline approaches for the county to decide if it will pursue the public-private partnership with the Warrenton developer, it's all out in the open.

Angler Vice President Steve Vento, manager of Culpeper Utility Partners -- his company's LLC that will oversee the pro-posed water and sewer proposal -- told the Star-Exponent less than two weeks ago that the project was going to cost $128 million.

But according to the newly released financials, the "Culpeper Water and Sewer Project" would cost $97.3 million, including $8.9 million for interest on the loan during construction.

Following is an itemized breakdown of financials for the project, according to the document online at culpeper-county.gov:

Site work: $10.8 million

Environmental: $1.7 million

Water system: $7.2 million

Sewer system: $19.1 million

Sewer plant: $25 million

Engineering: $2.1 million

Surveying: $1.07 million

Geotechnical: $300,000

Developer's fee: $5.9 million

Legal costs: $1.57 million

Proposal submission: $425,000

Easements: $510,000

Financing: $6.6 million

Easement plat preparation: $450,000

Permits: $490,000

Contingency: $5 million

The Culpeper County Board of Supervisors has not yet voted to enter into the public-private proposal with Angler for the system, but will hold a public hearing on the matter Thursday at 7 p.m.

In order to preserve the county's ability to build and operate a sewer treatment plant per new state regulations, construction on the system must start next month and be finished by the end of 2010.

Want to see it on-line?

To view newly released details about Angler Development's proposal to build a water and sewer system for the county, check out culpepercounty.gov and click on "Previously confidential tab 4 -- project financing."


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Copyright (c) 2008, Culpeper Star-Exponent, Va.

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