Royal Waterworks, Inc. announces that it has reached a utility payment agreement with Ramblewood East Condominium Association. This was accomplished through the efforts of the State Representative, Dan Daley, and the Coral Springs City Commissioner, Joshua Simmons. Royal is appreciative of the elected officials’ assistance. Without their involvement, a last-minute deal may not have been reached and the water service may have been disconnected to over 2,000 residents in the city.
Royal Waterworks recognizes that potable water and wastewater services are essential services, especially during the current COVID-19 global pandemic. This deal eliminates the possible disconnection as long as the terms of the agreement continue to be met by Ramblewood East.
 |
The deal allows reduced payments below the current amounts for a period beginning November 2020 through February 2021. Beginning in March 2021, Ramblewood East would be responsible for the current bill amount, as well as paying back the past due amount over a 24 month period at no interest. This is possible through a no-interest loan from U.S. Water. U.S. Water extended a line of credit to Royal Waterworks in the amount of the past due amount, as well as continued accumulation of underpayments. It is estimated that this amount will continue to grow to approximately $400,000 under the deal. This results in Royal Waterworks extending this credit to Ramblewood East, again with no-interest.
|
The agreement also requires Ramblewood East to apply for financial assistance through the federal CARES act being administered by Broward County and the City of Coral Springs. This financial assistance would then be used to pay for the past due amount on the water and wastewater account.