Discussion/Direction: Stormwater service charge rate increase to fund capital projects.

Staff has presented to Council several options to raise funding for major capital improvements needed in the Stormwater fund including the Rio de Flag flood control project.  On February 13, 2018, Council provided staff with direction to bring back funding options with a Stormwater service charge rate increase over multiple year options and with no debt issued to finance projects.

Based on Council direction, staff will be presenting options for funding major capital improvements in the Stormwater Fund.  The presentation will include:

• Stormwater Priorities
• Stormwater Top 10 Priority Projects
• Rate Scenarios and Impacts
• Revenue versus Timing of Need
• Rate Schedule
• Timeline for an Increase

Staff is seeking Council direction for a Stormwater service charge rate increase at this March 20, 2018, meeting.  If the Council provides direction to move forward with a rate increase, Management Services and Water Services staff will develop a Stormwater Financial Plan and Rate Analysis and bring back an ordinance for Council adoption.