UPDATED PRESENTATION: Vote YES / An Analysis of the 2025 Bond Resolution

[John Cunningham]

At the May 20th meeting, I (former WPCA Treasurer) offered my analysis of the Bond Resolution and recommended a YES vote. You may find a copy of the supporting materials attached in PDF format, or you can read the source materials online at:

• 2025 Bond Resolution Financial Commitments (slides)
  
• 2025 Bond Resolution Financial Analysis (financials)
  

The summary points made were:

1. We are not voting YES or NO on sewers, we are voting to get real cost data via bids
   • There are no alternate solutions acceptable to DEEP
     
   • We are under an enforceable Consent Order
     
   • Sewers will happen – DEEP made it clear that clear again last week
2. Voting NO is a self-defeating choice of false economy
   • if you object to the cost, causing delays only makes things worse (compare 2012 to 2025)
     
   • Plan B is to pay a higher price later, perhaps with lesser state subsidy
3. Voting YES places a reasonable cap on the costs on sewers ($51.5k) and roads/stormwater ($20k)
   • Retains access the state subsidies: $3.2M principal forgiveness, $4.5 CWF Grant, and $1.1M interest subsidy
   • Eliminates the roadblock to obtaining REAL cost information through bids and downside risk of penalty and legal costs
   • Resolution safeguards require state subsidies, CSA performance, and elected BOG oversight

The rational, self-interested choice for the whole of the community lies in a YES vote. 

The outline of the presentation includes:

1. Main Presentation on Why a YES Vote Works
2. Appendix A: Deep Dive on the Numbers
3. Appendix B: Adjacent Issues
4. Appendix C: 2018 Consent Order
5. Appendix D: Sewer Cost/Benefit Analysis
6. Appendix E: Flowchart on Process Moving Forward
7. Appendix F: OLS Financial Capability is Strong (EPA Worksheets)

Please feel free to share widely.

If you have any questions, please post them here and I will respond so anyone can see them.

Regards,

John Cunningham

[GS Man]

Well said John. Fully agree with your assessment of our current situation.  

Those opposed to the bond resolution will ultimately pay more for progress.  

The state cannot and will not tolerate an affluent 2nd homes beach community to push back on them - full stop!!  

eom- gss 

On May 21, 2025, at 9:34 AM, John Cunningham <john.j.c...@gmail.com> wrote:



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<2025 Bond Resolution Financial Committments-20250520.pdf>