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Miami Lakes weighs stormwater bond, fee and franchise-fee options to pay for drainage projects
Summary
Town staff briefed the council on a stormwater master-plan update that identified roughly $54.6 million in projects; council directed staff to return with options that include a higher stormwater ERU fee, new bonds and use of FPL franchise-fee revenue, and asked for a slower, lower-cost rollout option.
Miami Lakes officials discussed how to pay for remaining stormwater and drainage projects during the council’s Aug. 19 meeting, focusing on a range of financing paths including a higher monthly stormwater fee, issuance of new bonds and tapping a portion of the Florida Power & Light franchise fee. Public works staff said the last full plan update (2020) identified about $54.6 million in proposed projects; since then the town has spent about $38 million on projects and grants, leaving roughly $16.6 million unfunded.
Public Works Director Omar Santos told the council the town completed field work and has an updated…
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