Some of you believe that the PSB has no money and that they must tax new development in order to survive. I don't know who told you that, but the final word comes from their own report for 2013 that you can look at HERE.
The assets of EPWU exceeded its liabilities at the close of the most recent fiscal year by $815.18 million (net assets).
EPWU’s total assets of $1.47 billion increased by $60.09 million from 2012 to 2013 mainly due to unspent bond proceeds of $39.08 million from two new bond issues from the Water and Wastewater Utility and the Municipal Drainage Utility. In addition, there was a $12.36 million increase in Water and Wastewater Utility capital assets related to grants received for infrastructure projects, and contributions from developers for new development.
EPWU’s total liabilities increased by $27.04 million during the fiscal year mainly due to the increase of $25 million in bonds for a construction project that was included in the $75.72 million Water and Wastewater Revenue Refunding and Improvement Bonds Series 2012A and $14.08 million of Municipal Drainage Utility Revenue Bonds, Series 2012.
The debt service coverage for the Water and Wastewater Utility of 2.03 times is above the required 1.5 times debt service coverage as per its bond ordinance. The Municipal Drainage Utility’s debt service coverage of 2.35 times is above the required 1.25 times as per its bond ordinance.
As you can see - they are in phenomenal financial shape. In fact, you wonder if they could reduce your bill by a few bucks every month in order to thank you for making them so damn rich all these years. Nope, instead they plan to assess a new tax on you.
Don't be a fool. The PSB does no need to tax new development. The just want to.
All of you complaining about paying for new development (which you are not) should be complaining about all the cash the PSB is hoarding.