City News Podcast: Breaking down the City's new 15-year agreement with Spartanburg Water

As many of you have heard, the City and the Commission of Public Works reached an agreement earlier this week to continue the transfer payment to the City through 2028. The agreement, which is expected to be approved by both bodies based on staff recommendation, will: ° Provide for the transfer of $1.2 million to City Council in FY 2014, $1.1 million in FY 2015, and $1 million in FYs 2016-2018. Starting in FY 2019 and continuing through the end of the agreement in FY 2028, the $1 million transfer payment will be adjusted annually by the consumer price index, up to a maximum of 4.5 percent over any 2-year period. ° Require new or redeveloped commercial properties located within one mile of the City’s corporate limits and that receive new or expanded water lines to sign an annexation agreement. Today on the podcast, we sit down with Assistant City Manager Chris Story to get his take on the new agreement. What does all of this mean for you as a city resident? Listen to find out?