Project Update

Supporting source passage

Belmonte Payment Schedule The repayment schedule for the Forest Grove neighborhood was distributed to the Board. Belmonte had originally estimated at 16 units per year but has been installing many more meters than expected. In 2023: 13 units, 2024: 49 units, 2025: 50 units, and 2026: 16 units to date. As such, they have been paying much more in interest than they should based on the original schedule. The schedule has been revised so that any overage in interest will be applied to the principal. The special district fee will be recalculated based on the payments made so far.

Recorded value

{
  "status": "active",
  "summary": "The Belmonte repayment schedule was revised so interest overages apply to principal and the special district fee will be recalculated."
}