The Frankfort Utility Service Board (USB) took action at its Tuesday, September 8, 2020, meeting to set the effective date of the water rate increase. The water rate increase will be implemented over a three year period and when fully implemented will amount to a 53.6% increase.
Frankfort Municipal Utilities General Manager Todd Corrie addressed the 5-member board.
“I think our plan of right now if you guys are good with it, is to start it October 1st of this year – that way it starts right clean at the month, the 1st of the month,” said Corrie. “It will be the first one, then we will have it in our record for October 1st, 2021, then October 1st, 2022.”
The first increase will be 25%, the second increase is 15%, and the final increase is 13.6%.
According to a document prepared by a consulting firm hired by the USB, Stifel, Nicolaus & Company, Inc., the current rate for a city user of 4 units monthly is $10.28 per month. Under the new increase, that user will see the rate go to $12.85 per month in year 1, $14.39 per month in year 2, and $15.79 per month with the final increase.
