Committee backs $11.85 million stormwater financing to finish North Cameron, replace culverts and restore stream banks

The Finance Committee voted to forward an ordinance and companion resolution authorizing the issuance of stormwater system revenue bonds not to exceed $11,850,000 to the full City Council with a recommendation for approval.

City staff described the bond as the second stormwater loan; the city previously financed about $14 million, which was spent largely on the North Cameron drainage project. The requested up to $11.85 million would fund three primary projects: finishing the North Cameron drainage work, replacing severely deteriorated box culverts under Millwood where Abrams Creek crosses near Shenandoah University, and a streambank restoration project at a park location identified by staff.

Staff said the Millwood culverts are structurally degraded and, while they could likely be left in place for several years, the city prefers to replace them now because VDOT will undertake a large bridge replacement and roadway project in the same corridor in 2026. Replacing the culverts in advance would avoid repeating major excavation after the VDOT work. Staff estimated market interest rates for the bonds around 4 percent and said the stormwater utility will underwrite the bonds and repay debt from stormwater revenues.

Committee members asked for project timing and for an itemized allocation; staff provided a project‑level breakout in the meeting and said roughly $1.8 million would be assigned to the box culvert element. Staff also noted an annual report on the stormwater utility had been prepared for public distribution. A motion to forward both the ordinance and the related resolution to council for approval passed by voice vote.

The committee’s recommendation sends the measure to the full City Council for final action; staff said work would start this summer with an aim to complete culvert replacement before VDOT begins its work in 2026.