The Village of Homer is currently applying for grants and loads to help upgrade the village’s sewer pump systems that have an estimated cost of $4.4 million dollars to upgrade.
The most recent project the village completed, the village qualified for both loans at zero percent interest and grants after an income survey of residents was completed. This made the Village of Homer eligible for 0% interest instead of potentially a much higher interest rate.
Currently, if the village does not qualify for the special 0% rate, the village will be charged a rate of 4.48%, potentially costing the village millions more.
Landowner’s pay a portion of the water/sewer lines that are connected to the village. The village states if the rate of the bond of $4.4 millions is qualified for 0%, the cost would be $71.75. When compared to a potentially higher rate if the village doesn’t qualify, residents could pay yearly $136.07.
Surveys will be mailed out to land owners, including a potential second request if not enough responses are received in the first round. For areas the Post Office cannot deliver, the survey will be hand delivered to the landowner.
The Village of Homer stresses that all answers in the survey are kept confidential and only an overall summary is returned to the Village Offices from the consultant handling the survey.
“A survey must be completed showing the most current data for the Village of Homer to qualify for the grants or 0% loans. The previous income survey is outdated.” The Village said in a statement.
If the Village of Homer does qualify for the special rate, it will save taxpayers around $3.9 million dollars.
Residents with additional questions are encouraged to call the Village Offices at 607-749-3322.