HomeMy WebLinkAbout2005-089-08/16/2005-APPROVING A REVISED STORMWATER FINANCING PLAN RESOLUTION 2005-089
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROVING A REVISED STORMWATER FINANCING PLAN
WHEREAS, on April 20, 2004, the City Council adopted Ordinance No. 057, 2004
amending the City Code to reflect the adoption of updated master drainage plans; and
WHEREAS, the cost of the City-financed plans was estimated to be $132 million, and
the plans were to be completed in 2026; and
WHEREAS, the funding of the $132 million was based on the Stormwater Financing
Plan adopted by City Council in Resolution 2001-93 on July 17, 2001, (the "Financing Plan")
which required fee increases of 45% in 2002 and 10% in 2003 and 2004, as well as anticipated
additional stormwater fee increases of 6% in 2005 through 2008; and
WHEREAS, the 2005 stormwater fee increase was not approved by Council as
anticipated in he Financing Plan; and
WHEREAS, at the City Council work session on June 28, 2005, Council members
reviewed several alternatives to the Financing Plan; and
WHEREAS, the construction of the adopted master plan improvements is estimated to
cost $185.8 in Ilion in inflated dollars if such improvements are extended over an additional ten
years; and
WHEREAS, staff has projected that the $185.8 million of improvements can be financed
with the reven ies generated from the current stormwater fees which were adopted by Ordinance
155, 2003 on November 18, 2003; and
WHEREAS, based on staffs recommendation, Council has determined that future fee
increases are not in the best interests of the City and that the ten year extension in the
construction schedule is an acceptable alternative to raising the fees.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
FORT COLLINS that the Council hereby declares its policy and intent that the estimated $185.8
million of capital improvements necessary to carry out the approved master plans for the city
stormwater system shall be constructed over the next 31 years with a projected completion date
in 2036, and tl at the design, construction, operation and maintenance of the stormwater system
facilities shall be financed without further increases in stormwater utility fees except as the
Council may it the future determine are necessary.
Pa sed and adopted at a regular meeting of the Council of the City of Fort Collins
held this 1 th day of August, A.D. 2005. ����e��!'�^-
Ma,UO
ArTTEST:
City Clerk