Buyout will cost ‘big bucks’
“Buyout will cost ‘big bucks’,” Carmel Pine Cone – April 14, 2023
If the Monterey Peninsula Water Management District is able to nationalize Cal Am, the costs will place a heavy burden on the public. This government advisory board, which was tasked only with finding new sources of water, contends that they will provide water at lower prices. Of course, that is the big lie. They always fail to mention that the real cost will be borne by property owners. Our property taxes will likely go up $3,000 to $5,000 each year for 30 or more years. How else can the moneyless water management district pay for almost a half-a-billion dollars or more for a water company?
No, buying Cal Am will cost property owners big bucks by stealthily tacking onto our property tax bills a 30-year or more mortgage debt. It is all a sham.
Lawrence Samuels, Carmel