Title
Consider funding methodologies and funding mechanisms for a Proposition 218 special assessment to pay for deferred maintenance at the San Antonio and Nacimiento Dams, and spillway rehabilitation or replacement at San Antonio Reservoir.
Presented by: Brent Buche, General Manager
Fabricio Chombo, Finance Manager
Kari Wagner, Wallace Group
Report
RECOMMENDATION:
It is recommended that the Monterey County Water Resources Agency Board of Directors:
Receive a presentation on funding methodologies and funding mechanisms for a Proposition 218 Special Assessment to fund deferred maintenance at the San Antonio and Nacimiento Dams and spillway rehabilitation or replacement at the San Antonio Dam and make a recommendation to the Monterey County Water Resources Agency Board of Supervisors.
SUMMARY/DISCUSSION:
On April 26, 2019, the Monterey County Water Resources Agency (Agency) Board of Directors (BOD) held a special workshop and Agency staff presented an overview of 40 projects and 21 programs that were identified as either unfunded and/or underfunded. The aggregate total of these projects and programs summed approximately $85 million.
On September 19, 2019, a follow-up joint workshop was held with the Agency Board of Supervisors (BOS) and BOD. Staff brought back the recommendations from the April 26th workshop and further examined the costs of the projects/programs to a revised total of approximately $145 million. The workshop consensus was that the Agency should focus on funding deferred maintenance at the San Antonio and Nacimiento Reservoirs due to deadlines set by the Division of Safety of Dams (DSOD) to rehabilitate the spillway at San Antonio by November 2024. Further direction was to conduct a Proposition 218 special assessment election to obtain capital funding for the deferred maintenance, ongoing operation & maintenance of $1.5 million annually, and a capital reserve of $1.5 million accumulated ove...
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