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Committee member warns stormwater loans and fees limit capacity for major projects
Summary
A committee member told the board loan programs for stormwater mitigation have deadlines and borrowing limits, noting the jurisdiction already has multiple loans and must consider repayment capacity and fee impacts on residents.
A committee member raised concerns about the practical limits of financing large stormwater projects, saying loan programs have application deadlines and the jurisdiction already has three stormwater loans outstanding. "Even if we went for a loan on Stormwater, it's next year, and we already have 3 loans out," the committee member said, and added that the jurisdiction must consider whether it can afford new loan payments.
The committee member said stormwater charges are expected to raise about $125,000 this year and warned that the ability to finance projects depends on available revenue and borrowing capacity. Board members acknowledged financing constraints when considering whether to require additional mitigation or to delay development until funding is available.
