Impact
WARD: City Wide
COMMITTEE: Finance and Administration
$ IMPACT:
Title
Approval of an increase of the monthly stormwater charge from $2.95 to $3.45 as was adopted in accordance with the FY 2020 budget.
Body
ISSUE:
An increase of $0.50 in the monthly amount charged for stormwater is needed to fund the expenses included in the Stormwater fund in the FY 2020 budget.
BACKGROUND: In the fee section of the FY 2020 budget book, it states, "In addition to routine water rate increases next January, this budget also anticipates the City Council will increase the storm water fee at that time. The monthly fee is currently $2.95 per residential unit. Commercial properties pay the same rate per 3,900 SF of impervious surface. To better cover this utility’s future capital needs, the fee would increase by $0.50 to $3.45/month. This fee was last raised by $0.50 in January 2018.”
In the Stormwater Fund, we budget 100% of the revenue collections as expenses to maintain or improve our infrastructure. The department has projects completed or underway to use all of the budgeted expenses in the fund. We need Council to formally approve the rate increase at January 1, 2020.
There will be an notice included in this month's bill which should go out around January 10th so residents and businesses will have notification before the new rates are billed.
RECOMMENDATION/REQUESTED ACTION: Recommend approval of an increase in the stormwater rate from $2.95 to $3.45.