Laserfiche WebLink
Proposed Storm Water Rates per Quarter <br /> sze.00 ---- -- — <br /> S2o.o� i <br /> szo.00 ------ _—. _.___ __.__�__�±e.z5 . , <br /> s+s.ss <br /> ....----._._..$'1.3_Z]._.._$15.08 ; <br /> $15.00 ---____. ___ _ _.__ -. <br /> $12.46 i <br /> $10.30 511.33 <br /> �. $10.00 � --___.._ __...__ __..._ — --- -- -�� �� <br /> I $5.00 , -- .___� _- - - --- ; <br /> $0.00 —� --- . <br /> 2009 2010 2011 2012 2013 2014 2015 2016 <br /> Cities across the state will be facing pressure to generate more revenue to fund storm water <br /> systems. The Clean Water Legacy Act provided funding to test and develop plans for <br /> Minnesota's polluted waterways. These plans may result in new unfunded mandates for local <br /> governments. Our experience with other cities indicates that most have not yet planned for <br /> significant improvements to their storm water system, and their quarterly fees are established at a <br /> level that will only pay for the annual operations and maintenance of the storm water system. As <br /> more cities undertake planning for capital improvements to their storm water systems, we expect <br /> to see higher storm water utility fees across the metro area. <br /> Future Debt for Capital Improvements <br /> We are not projecting any bonds to be issued for the currently proposed capital improvements of <br /> $1.13M expected between 2010 to 2016. As a result, there is a great deal ofpressure to increase <br /> the quarterly rates in order to be able to pay for the projects with cash. Bonds could be issued <br /> which would smooth out the rate increases necessary over time. As cash balances and project <br /> costs are evaluated in the future, the amount of debt and the term of debt can be re-evaluated. <br /> Cash Balances <br /> The rates shown above, with the scheduled capital improvements, provide the following cash <br /> balances. <br /> U/ility Rate Study Page 2! <br /> Citv n/Urvno. Afinnesotu December. 2009 <br />