Title
Support approval and adoption of:
a. A FY 2020-21 cost of living adjustment (COLA) increase of 2.9% for Zones 2B, 2Y and 2Z for the Castroville Seawater Intrusion Project (CSIP) and the Salinas Valley Reclamation Project (SVRP); and
b. A FY 2020-21 COLA increase of 2.9% for the CSIP water delivery charge and water service charge; and
c. Setting and holding a public hearing on June 2, 2020 at 1:30 p.m. to consider adopting assessment rate charges; and
d. Directing the Clerk of the Board of Supervisors to publish a hearing notice at least ten days prior to the date set for the hearing.
Report
RECOMMENDATION:
It is recommended that the Monterey County Water Resources Agency Finance Committee support approval and adoption of:
a. A FY 2020-21 cost of living adjustment (COLA) increase of 2.9% for Zones 2B, 2Y and 2Z for the Castroville Seawater Intrusion Project (CSIP) and the Salinas Valley Reclamation Project (SVRP); and
b. A FY 2020-21 COLA increase of 2.9% for the CSIP water delivery charge and water service charge; and
c. Setting and holding a public hearing on June 2, 2020 at 1:30 p.m. to consider adopting assessment rate charges; and
d. Directing the Clerk of the Board of Supervisors to publish a hearing notice at least ten days prior to the date set for the hearing.
SUMMARY/DISCUSSION:
This board report requests the minimum annual 2.9% COLA increase for Zone 2B (CSIP project), Zone 2Y (operations and maintenance of CSIP), and Zone 2Z (operations and maintenance of the SVRP). The CSIP water delivery charge of $6.25 will increase to $6.43, and the water service charge of $72.72 will increase to $74.83.
Zones 2B, 2Y, and 2Z were established to provide revenue to construct, operate and maintain the CSIP and the SVRP, which includes debt service for the municipal bonds, a State Revolving Fund loan, and a Small Reclamation Projects loan from the U.S. Bureau of Reclamation that funded the construction of the projects. The operation of the C...
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