Title
Consider approving the Advance Funding Agreement between the County of Monterey and the Monterey County Water Resources Agency in an amount not-to-exceed $7,000,000 to provide cash flow assistance for emergency protective measure projects mitigating damage to Agency facilities caused by the 2022/2023 winter storm events.
Report
RECOMMENDATION:
It is recommended that the Water Resources Agency Board of Supervisors:
Approve the Advance Funding Agreement between the County of Monterey and the Monterey County Water Resources Agency in an amount not-to-exceed $7,000,000 to provide cash flow assistance for emergency protective measure projects mitigating damage to Agency facilities caused by the 2022/2023 winter storm events.
SUMMARY/DISCUSSION:
An atmospheric river event commencing December 26, 2022 and continuing into January of 2023 damaged many facilities of the Monterey County Water Resources Agency ("Agency") including portions of the Pajaro Levee; the slidegate and levee road of the Salinas River Lagoon; the Nacimiento Reservoir spillway plunge pool; and other flood control facilities and supporting infrastructure. Agency staff's preliminary repair cost of damages to all Agency facilities is estimated at $16 million. Staff is in the process of further estimating these costs over coming weeks, in consultation with the Federal Emergency Management Agency ("FEMA") and State Office of Emergency Services ("OES") teams.
The Agency is seeking cash flow financing from the County of Monterey in an amount not to exceed $7,000,000. These funds will provide an immediate financing source to allow the Agency to immediately implement priority emergency protective measures to control erosion at Nacimiento Dam spillway plunge pool (estimated at $3.5 million); make repairs to the Pajaro Levee (estimated at $1.5 million); and make repairs to the Salinas Lagoon Road and slidegate (estimated at $2 million). Staff believe that these critical projects should be comp...
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