June 25, 2008

County Releases Financial Details on Angler Deal

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

Jun. 25--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 in the open.

According to the newly released financials, construction of the "Culpeper Water and Sewer Project" would cost $88.3 million.

However, including debt service, reserves and other financing costs, the total bond issue for the project would be $126.4 million.

Following is an itemized breakdown of financials for the construction project, according to the document online at culpepercounty.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.

Allison Brophy Champion can be reached at 825-0771 ext. 101 or [email protected]

Want to see it?

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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