SOUNDING OFF:

There’s no doubt: Everybody agrees that Balboa Island will look better without the utility poles.

However, the recent push to get the utilities buried is at one of the most declining times in the economic history of our country!

The assessment is way off base, unfair and very high. It’s unfair that homeowners of properties bigger than standard size must pay more for a utility box of the exact same size Edison should have never allowed this. What a joke! The bids were taken in November and chosen in December.

Too high! The average lot will end up costing $29,900 if not paid up front (includes a 15-year $9,100 bond at 5.75%, plus the $3,000 to $5,000 estimated hook-up)!

Between December and March, the economy has gone in a steeper nosedive.

The project needs to be re-bid and before that, the project needs to have a price cap on what we, Balboa Island property owners, will pay. This is a bad time to carry this project through, and for merchants on the island that are already feeling the huge economic slump for quite some time now.

Balboa Island just isn’t off the beaten path, like Little Island or West Newport Shores. The “yes” group is stating this is the last time ever we can have this. I guess it never entered anyone’s thoughts that down the road there will be electric storage systems for homes via solar panels and no need for electric hook-ups.

The main reason folks are against this is: The price and how its structure is flawed, and needs to be rebid according to what we decide to pay, and that many owners were not aware of or included in the early stages of the project.

It will take four to five years to complete the project. That’s how long it takes to build a nuclear-powered aircraft carrier that costs $5 billion!

There are many senior citizen property owners with now strained budgets because of the international banking failures. We’re pretty sure if we came up with a price around $11 million, there will be many hungry companies to get the job done, and that’s how this job needs to be bid. The utility companies need to also [pony] up for the savings they [get] by lowering service and repair costs.

So we either get a great deal, like $10,000 per lot, or don’t start this desired project that’s now a bad deal at a bad time. It’s mostly an aesthetic project anyway. Besides this project, the city is planning a entire major re-piping of water mains for Park and Balboa avenues, which will dig up the main street arteries for the island. Doesn’t that sound like fun?

Thank you to the folks who put work into this project when we were doing fine economically, but come on — look what’s going on now!

Property owners of Balboa Island: Vote no to the project we wish we had. The timing and costs are very bad.

RANDY SETON lives in Newport Beach.