HUNTERTOWN - The projections were good enough for the Huntertown Town Council to elect not to seek money.

The Town Council opted Monday night not to take part in a State Revolving Fund pool this week to acquire funds to help pay for the new Water Treatment Plant to be built on Johnson Road.

Stephen Carter of H.J. Umbaugh, a certified public accounting advisor for local governments, presented the figures of a study the company performed for the Town, comparing plans to enter the SRF pool or not.

The study estimated around $2.4 million of the $5,580,000 project remained unbid. With the Town having $1.4 million in funds available to use for the project, coupled with the debt and interest that would be saved by not entering the SRF Pool, the decision became unanimous.

In addition, by opting out of the SRF pool, the Town will avoid an increase of 5.9 percent across the board in water rate increases, estimated by H.J. Umbaugh.

"Despite all the negativity from the City of Fort Wayne, putting restrictions on our growth, we still had significant growth, to the point where our revenue came in higher than anticipated. That has put us to where we have some money to handle some of this up front," explained Council member John Hidy. "It's a gamble. It reduces having an increase on our customers of 5.9 percent, so we just opted out of that and work with the funds that we have, and go from there."

"We are not only safe, we are a healthy community. We have growth, we have income, and we have been frugal with our funds."

Both Umbaugh and Town Engineers from DLZ also estimate bids for the remaining $2.4 million on the project coming in much lower than that. Hidy even anticipates that number could fall below the two million mark. The Town has already purchased the property for the Plant.

Both entities also stated that if funds are needed later, the Town can enter another SRF pool in February.

"If the bids come in like (Umbaugh and DLZ) are anticipating, it will be below what we wanted to borrow, so there is no need to borrow. We are taking a calculated risk," added Council member Jim Fortman. "If we don't have to borrow any more money, then our rates are set. If it doesn't work out, we can go back in February and re-apply, so it is a win-win situation for us."

"I am pretty confident," Hidy remarked. "I think (Carter) is right on with the numbers. I have a lot of respect for H.J. Umbaugh and I think we are moving along."

The Umbaugh figures showed a water rate increase of $1.68 per month if the Town opted to enter the SRF pool.

In other Town Council news:

* Desiree Howell, the project coordinator for the income survey by Ball State University, has asked the Council to help finish the survey by contacting the 49 names remaining on their list.

The income survey is being done to see if the Town qualifies for State funds to aid in the Stormwater and Sanitary Sewer project. If the area of Town surveyed qualifies as low-to-moderate income, the project may be subject to State funds.

Fortman, who received a call himself and took part in the survey, doesn’t want the Town to spend the time calling for the information, when they have already paid for Ball State to do the survey.

The Town Engineering firm, DLZ, is following up with Ball State to see that issues they are having in terms of not completing the survey themselves.

“People just aren’t so giving with information, whether you walk up and knock on their door or call them on the phone,” Hidy said.

* Town Supervisor of Utilities, Tom Gongwer, introduced Randy Bailey as the Town’s new employee.

* The Census Bureau has asked the Council to find a volunteer to help form a committee to motivate residents to respond to the 2010 Census. The Census’ success depends on community involvement. Anyone interested in helping should contact the Huntertown Town Hall.