Title
a. Hold a Public Hearing on June 6, 2017 at 1:30 PM to consider adopting assessment rate charges with a 3.5% COLA increases for Zones 2B, 2Y and 2Z for Fiscal Year 2017-2018, the Castroville Seawater Intrusion Project (CSIP) and the Salinas Valley Reclamation Project (SVRP); and,
b. Approve and adopt a 3.5% FY 2017-18 cost of living adjustment (COLA) for Zones 2B, 2Y and 2Z, the Castroville Seawater Intrusion Project (CSIP) and the Salinas Valley Reclamation Project (SVRP); and the CSIP water delivery charge.
Report
RECOMMENDATION:
It is recommended that the Monterey County Water Resources Agency Board of Supervisors:
a. Hold a Public Hearing on June 6, 2017 at 1:30 PM to consider adopting assessment rate charges with 3.5% COLA increases for Zones 2B, 2Y and 2Z for Fiscal Year 2017-2018, the Castroville Seawater Intrusion Project (CSIP) and the Salinas Valley Reclamation Project (SVRP); and,
b. Approve and adopt a FY 2017-18 cost of living adjustment (COLA) charge of 3.5% for Zones 2B, 2Y and 2Z, the Castroville Seawater Intrusion Project (CSIP) and the Salinas Valley Reclamation Project (SVRP); and the CSIP water delivery charge.
SUMMARY/DISCUSSION:
On March 20, 2017 Raftelis Financial Consulting Inc. (RFC) delivered a presentation to the Water Resources Board of Directors seeking approval of their recommendation to the Agency to request a maximum cost of living adjustment (COLA) increase in the recommended FY 17-18 budget. A current fiscal year COLA increase is required since the Agency did not collect one from FY 2011 - 2017, totaling approximately 19.8%. The Board of Directors requested RFC to meet with the Zone 2B, 2Y, and 2Z land owners after the FY 17-18 recommended budget is approved to discuss an approach to this accumulated, uncollected COLA.
This board report requests the minimum annual 3.5% COLA increase for Zones 2B The Castroville Seawater Intrusion Project (CSIP), Zones 2Y, the Operations and Maintenance of the Castroville Seawat...
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