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San Diego’s water rates will climb nearly 15 percent during the next two years, after the City Council voted overwhelmingly for the hike Thursday.

“No one likes water rate increases, but this increase is a prudent and necessary step,” interim Mayor Todd Gloria said before the council voted 8-1. Councilman Scott Sherman opposed the measure, which will take effect Jan. 1.

Will water rates effect the value of your home?  Contact the real estate appraisers in San Diego at www.scappraisals.com for your value questions.

City officials said the higher rates will ensure that San Diego has the financial reserves needed to maintain its good bond rating and cover rising wholesale water costs.

“This rate increase is actually compounded by the fact that we did not raise rates for two years,” said Vincent Mudd, a San Diego representative on the San Diego County Water Authority board.

The average increase of 15 percent won’t be felt equally.

Under a new pricing structure, single-family households with very low water use will see their rates rise about 8 percent over the next two years. In contrast, homeowners consuming the most water will see rates double.

In a significant change, each new pricing tier will be based on less water usage than under the current system. That means more people will be bumped into higher pricing levels.

Rates for multifamily dwellings and nonresidential users will jump nearly 20 percent by 2015, and construction and irrigation users will see hikes of almost 24 percent by the second year.

Some labor advocates, business owners and residents came to Thursday’s council meeting to voice their criticism of the rate proposal. They said it would hurt the poorest San Diegans and unfairly punish certain single-family homeowners with sharply higher rates.

Several homeowners said although they’ve taken steps to conserve water, they’re still in the highest price bracket.

“The fact that you’re changing the tier structure and going up 100 percent, it’s going to affect families the most,” said Chris Rizzuti of Rancho Bernardo. “It’s an attempt to push an agenda of water conservation that does not take into account multiple people in a household.”

Sherman said he shared that concern.

read more at: http://m.utsandiego.com/news/2013/nov/22/tp-san-diego-water-rates-to-rise-15-percent/

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Solar Christmas Tree

Oakland-based Mosaic, a crowd-sourcing company for investments in solar energy projects, began offering $25 credits Monday to anyone who opens an account.

The company is distributing the credit as a wallet-sized gift card that can be downloaded and printed for use — perhaps as a Christmas stocking stuffer.

“Solar is a new asset class, and a lot of people are wary to jump in,” said Katie Ullmann, a Mosaic spokeswoman. “This is really a great gift for younger people who are passionate about solar projects, or who also are just getting started investing or learning about investment portfolios.”

Launched in 2001, Mosaic has financed $5.6 million in commercial-scale solar projects atop military and university housing complexes, a federal food distribution center and agricultural facilities.  https://joinmosaic.com/how-it-works

Mosaic online account holders — there are about 2,100 — can shop among projects by prospectus. Average annual returns are advertised at 4.5 percent to 7 percent. Investments typically come to maturity for withdrawal after five and 10 years.

California allows any individual 18 or older to invest through Mosaic, while some states limit participation to accredited investors with significant income or assets. Ullmann said Mosaic keeps 1 percent of payments it receives from solar installations.

disclaimer: for information and entertainment purposes only