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Staff warns impact‑fee fund could run negative by 2029 under current transfers
Summary
Presenters said under Scenario 1 transfers to cover operations and debt could drive the impact‑fee fund negative by 2029, forcing large rate increases in later years unless alternative reimbursements are secured.
Barrett told council that the impact‑fee fund currently pays developer participation reimbursements and debt service, and that under Scenario 1 the impact‑fee fund would transfer significant sums to the utility fund to cover operations and principal. "In this scenario the impact fee fund has a fund balance that becomes negative in '29," Barrett said.
Staff listed current reimbursement obligations for several developer projects (Meadow Bridal, Ironwood, State Highway 130, Kirk Track), and cautioned that using impact fees to shore up operations would reduce the city’s capital cushion and could necessitate a sharp rate increase in 2029 under that scenario. Council discussion focused on alternatives including EDC reimbursements or TERS/other transfers to avoid drawing the impact‑fee fund negative.
