Lifetime Citizen Portal Access — AI Briefings, Alerts & Unlimited Follows
Council approves FY26–27 fee schedule and ratifies JPA bond letter‑of‑credit renewal 5–0
Loading...
Summary
The council approved the city’s annual fee schedule — including a 50% reduction to a residential heat‑pump water‑heater fee and new BMR monitoring fees — and ratified a three‑year renewal of a letter of credit for 2007 variable rate bonds securing public safety project financing.
The City Council unanimously approved the fiscal year 2026–27 comprehensive fee schedule and ratified a renewal of the letter of credit for variable‑rate demand revenue bonds tied to a 2007 public safety project.
Senior management analyst Carly Toffee summarized proposed changes to the fee schedule, noting most adjustments are cost‑recovery tied to CPI (staff used a 2.5% August CPI proxy this year). Notable changes included the addition of a per‑unit annual monitoring fee and research fee for below‑market‑rate (BMR) units, a campaign sign collection fee to cover staff time, market‑based increases to golf fees, and a proposed 50% reduction to the residential heat‑pump water‑heater fee to encourage conversions.
Council voted to adopt the fee schedule 5–0. No public comment was received on the item.
On a separate, related finance item, Finance Director Abby Feaster presented a ratification of a city manager renewal of an irrevocable letter of credit with Wells Fargo for the City of San Mateo Joint Powers Financing Authority’s 2007 variable‑rate bonds. The bonds originally funded the police administration building; there is about $11.5 million outstanding on the issue. The renewal covers a three‑year term and staff said the arrangement remains financially favorable compared with converting to fixed‑rate debt at this time. The council ratified the renewal and related reimbursement and fee agreements by roll call, 5–0.
