This is the second phase of the Municipal Drainage residential and non-residential rate increase effective January 1, 2021.  The first phase was implemented July 1, 2020.  A rate increase is required in order to cover the ongoing costs associated with the operating and maintenance of the storm drainage system to satisfy covenants in its Municipal Drainage Revenue Bonds and to issue new debt for the rehabilitation of the Collin Creek Drainage Culverts.  The rate increase will provide an additional $1.8 million in additional revenue for FY 2020-21. A public hearing was conducted and the ordinance adopted at the November 9, 2020 City Council meeting.  This public hearing is for the levy of the schedule of charges.

Approval of this item will increase Municipal Drainage revenue by an estimated $1,800,000 for FY 2020-21 compared to the FY 2019-20 re-estimate. The Municipal Drainage rate increase is included in the FY 2020-21 Municipal Drainage Budget.

Approval of this agenda item supports the City's Strategic Plan Critical Success Factor of Excellent, Innovative, and Accountable City Government.               

Approval of this item will increase Municipal Drainage revenue by an estimated $1,800,000 for FY 2020-21 compared to the FY 2019-20 re-estimate. The Municipal Drainage rate increase is included in the FY 2020-21 Municipal Drainage Budget.

Approval of this agenda item supports the City's Strategic Plan Critical Success Factor of Excellent, Innovative, and Accountable City Government.