Wildwood commissioners Monday night approved issuing $1.7 million in revenue bonds to buy the water and sewer plants at the Continental County Club, located south of State Road 44 west of Morse Boulevard and County Road 468.
The revenue bonds, which mature in 2031, will be held by BB&T (Branch Banking & Trust) Bank at an interest rate of 2.56 percent, lower than an expected 3 percent rate.
Buying the sewer and water plants will make it easier to serve new projects planned near the proposed Florida Turnpike interchange along CR 468, city officials said.
Major developments proposed for the area include Landstone, which would include 8,000 homes on 4,000 acres near County Road 470, and Wildwood Springs, where 3,000 homes are planned on 1,046 acres near county roads 468 and 501. Both projects were proposed in 2008 and have been on hold since then.
The Continental plants will continue to operate as standalone facilities, but eventually will be connected to Wildwood’s water and sewer systems. They serve 940 residents and generate $454,000 in annual revenue.
Utilities director David Watson said no additional employees will be needed to operate the plants.
In another water-related matter, commissioners also approved an interconnect agreement with Coleman for water service. A water main along CR 468 will be relocated to provide the connection at a construction cost of about $30,000. Sumter County will pay engineering and design costs.
“Right now, it would just be set up for an emergency,” said assistant city manager Jason McHugh. “We have one line out there. With the growth, this seems like the right time to do it.”
Commissioner Robby Strickland pointed out that Coleman charges more for its water than Wildwood.
McHugh said if Coleman wanted to buy Wildwood water, the price would have to be negotiated.
Commissioners also approved an extra payment of $75,143 on a $1.8-million project to install a sewer line to the Trailwinds and WholeLife developments across County Road 466A from Pinellas Plaza.
Watson said the added cost was due to an abundance of limestone that had to be removed for the pipe installation. He said the sewer line from the Wildwood sewage treatment plant west of U.S. 301 has reached County Road 462 and only needs to be extended across the road to the two developments.
