Section VIISECTION VII
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VII. FINANCIAL CONSIDERATIONS
Implementation of the proposed regulatory controls, programs and improvements that are
identified in this plan will have a financial impact on the City. To establish how significant this
impact will be, a review of the means and ability of the City to fund these controls, programs and
improvements is necessary. Toward this end, please find outlined below a listing of various
sources of revenue that the City will endeavor to implement the water resource management
efforts outlined in this plan.
For the next ten years, the capital improvement projects are estimated to cost approximately
$1,108,000. The storm water management program costs are estimated at about
$- 1,63 89 $1,116,300 . The storm water studies are estimated to cost about
$24 Over this 10- year period, these projects, programs, and studies are
estimated to cost about $299$2,427,000 Any projects, studies, and programs and the
associated funding are subject to City Council approval.
The City intends to maintain its existing storm sewer system by using funds collected under the
existing Storm Water Utility Fee For this reason there are no anticipated impacts on the City's
General Fund Levy limits are not anticipated to impact this fund either. Monetary impacts on
households will be limited to the same level it is currently impacting households.
Since the proposed expenditures exceed the projected revenue, Ret all acti w be funded.
Tthe City has identified projects for which it will pursue grants to fund the work_ere •
applicable-.-In lieu of additional funding, the City Council will prioritize the activities that are
undertaken based on which projects provide the most benefit to the City.
DESCRIPTION OF FUNDING SOURCE
REVENUE GENERATED
1.
Revenue generated by City's Storm Water Utility
$195,000 /year
2.
Project paybacks
Variable
3.
Special assessments for local improvements made
under the authority granted by Minnesota Statutes
Variable depending on activities
Chapter 429 (Ad Valorem Financing)
undertaken
4.
Revenue generated by Watershed Management
Special Tax Districts provided for under Minnesota
Variable depending on activities
Statutes Chapter 473.882
undertaken
5.
For projects being completed by or in cooperation
with a Watershed District or Watershed Management
Organization, project funds could be obtained from
watershed district levies associated with their
Variable depending on activities
administrative funds, construction funds, preliminary
undertaken
funds, repair and maintenance funds or survey and
data acquisition funds, as provided for in Minnesota
Statutes Chapter 103D.905
6.
Grant monies that may be secured from various
Variable depending on activities
local, regional, County, State, or Federal agencies.
undertaken
City of Shorewood
WSB Project No. 1459 -23
March 2008
Section VII - Page 1
SECTION VII
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DESCRIPTION OF FUNDING SOURCE
REVENUE GENERATED
This would include the County, MnDOT, MPCA, the
DNR and others
7. Other Sources: These may be other sources of
funding for storm water activities such as tax
increment financing, state aid, etc. The City will
Variable depending on activities
continue to explore additional revenue sources as
undertaken
they become available.
8. Tax abatement
Variable
City of Shorewood
WSB Project No. 1459 -23
March 2008
Section VII — Page 2
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