Marshfield's Utility Giving City Return on Investment
Wednesday, April 25th, 2018 -- 7:59 AM
(WDLB) -Marshfield's utility is giving the city a return on its investment.Members of the commission which governs the utility last night presented Mayor Bob McManus a payment in lieu of taxes -- or PILOT -- totaling more than two-million dollars. Commission President Mike Eberl told the Common Council the city would not get that kind of return on its investment if Marshfield was served by an investor-owned utility. One-point-three million of the total two-point-one million dollar PILOT comes from the electric utility, while 658-thousand comes from the water utility, and the remaining 223-thousand is the utility's annual dividend payment back to the city.
In recent years, that payment has been earmarked for economic development projects within the city. Commission member George Holck also told the Council the utility buys local. Last year Marshfield Utilities spent two-point-three million dollars with local contractors and vendors. He also noted that -- on average -- Marshfield's electric rates were 25-percent lower last year than investor-owned utilities in the state.
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