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Council hears stormwater revenue-bond options and modeled fee impacts on households
Summary
Staff outlined history and structure of the stormwater fund, presented four rate scenarios that could expand stormwater bonding capacity from about $10M (no increase) to as much as $174M over 25 years, and quantified household impacts for a typical tier-2 residential account. Council members requested district-level breakdowns and nonresidential analyses.
City staff told the council that the stormwater fund could be leveraged to add capital capacity but that doing so hinges on the structure and size of future rate increases.
Art Reinhardt of Public Works told councilmembers the city's citywide drainage need is "still close to about $4,000,000,000 of drainage need," while the stormwater fund today generates roughly $56.8 million in revenue against about $59 million in expenses and about $7 million in debt service. Staff calculated that with no rate increase and a 25'year revenue-bond term, bonding capacity is small (~$10 million), but…
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