Title
Support approval and adoption of:
a. A FY 2020-21 cost of living adjustment (COLA) increase of 2.9% for Flood Zones 1, 1A, 8, 9, 12, and 17; and
b. Setting and holding a public hearing on June 2, 2020 at 1:30 PM to consider adopting assessment rate charges;
c. 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 Flood Zones 1, 1A, 8, 9, 12, and 17; and
b. Setting and holding a public hearing on June 2, 2020 at 1:30 PM to consider adopting assessment rate charges; and
c. 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 report reflects the recently published 2020 Cost of Living Adjustment (COLA) of 2.9% for
The following flood Zones:
• Zones 1 & 1A - Pajaro River Fund 112
• Zone 8 - Soledad Storm Drain Fund 121
• Zone 9 - Reclamation Ditch Fund 122
• Zone 12 - San Lorenzo Creek Fund 124
• Zone 17 - Moro Cojo Slough Fund 127
The Monterey County Water Resource Agency Ordinances governing these Agency flood zones are as follows: 2626, 2974, 3878, and 3881. These Ordinances were adopted for the main purposes of protecting life and property, and reducing the impact caused by flooding.
This board report also requests that a public hearing be set and held for June 2, 2020 at 1:30 PM to consider adopting assessment rates as set forth in the Notices of Public Hearing relating to Zones 1, 1A, 8, 9, 12 and 17 for Fiscal Year 2020-21, all identified in the Public Notices. A notice will be published at least ten days prior to the date set for this hearing.
OTHER AGENCY INVOLVEMENT:
None
FINANCING:
The requested COLA increase of 2.9% will increase FY 2020-21 Flood Zone estimated revenues as follows:
• Zones 1 & 1A - Pajaro River Fund 112 revenues will increase by an estimated $13,622
• Zone 8 - Soledad Storm Drain Fund 121 revenues will increase by an estimated $2,107
• Zone 9 - Reclamation Ditch Fund 122 revenues will increase by an estimated $34,813
• Zone 12 - San Lorenzo Creek Fund 124 revenues will increase by an estimated $897
• Zone 17 - Moro Cojo Slough Fund 127 revenues will increase by an estimated $2,543
The total estimated increase for all flood zones is $53,981 increasing total revenues from $1,861,410 to an estimated $1,915,391.
Prepared by: Fabricio Chombo, Finance Manager II, (831) 755-4860
Attachments:
1. Notices of Public Hearing Zones 1, 1A, 8, 9, 12 and 17