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, necessary to maintain and improve water quality in the region as well as to address ongoing flooding <br />F�� issues. <br />�: FINANCIAL IMPACTS <br />F� Currently the storm water utility rates are set in December for the upcoming year. The rates are based on <br />F projected annual expenses and also anticipated long term capital expenditures, including both projects <br />c and equipment. <br />F� The implementation of a storm water credit will initially cause the credited amounts to be dispersed <br />� among all the properties in the City, which would increase rates slightly as a result. However, the <br />c improvements that the credits are based on will ultimately reduce the amount of storm water traveling <br />r through the system that the City must maintain, and which the City uses the funds from the storm water <br />, utility to maintain. Therefore, if this credit program is successful and we see a signif'icant participation <br />rate, we should see decreases in the actual long term capital expenditures, thereby reducing future storm <br />water utility rates. <br />POLICY OBJECTIVE <br />� The City's Comprehensive Storm Water Management Plan (CSWMP) establishes several policies and <br />� goals related to water quality and flood protection. The overall storm water utiliry provides funding to <br />, meet these goal and policies. The proposed storm water credit provides a reasonable and responsible <br />, financial acknowledgement to property owners who exceed the requirements of their responsibilities as <br />,� it relates to storm water management on their site. <br />£ STAFF RECOMMENDATION <br />� Approve the attached Storm Water Credit Program. <br />f REQUESTED COUNCIL ACTION <br />�� Approve the Storm Water Credit Program. <br />Prepared by: Marc Culver, City Engineer; <br />Attachments: A: Proposed Storm Water Credit Program <br />B: 1984 Adopted Stortn Water Credit Policy <br />Page 3 of 3 <br />