Byline: JAY JOCHNOWITZ Staff writer
Faced with the threat of several years of double-digit rate hikes, the Albany Municipal Water Finance Authority wants to borrow an extra $9.7 million to pay for repairs and improvements.
If the deal goes through, the authority and the Albany Water Board still would have to raise rates an estimated 6 percent annually just to cover property tax and sewer fee increases they now face, said the authority's chairman, Arthur Roth. But more severe rate hikes, projected at over 11 percent this year, would be at least delayed and, water officials hope, avoided altogether.
"I don't feel right hitting ratepayers with a …
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