Title
Consider recommending that the Monterey County Water Resources Agency Board of Directors recommend the Monterey County Water Resources Agency Board of Supervisors:
a. Approve and adopt the Fiscal Year (FY) 2024-25 assessment charges with cost-of-living adjustment (COLA) increase of 2.4% for Flood Zones 1, 1A, 8, 9, 12, and 17; and
b. Set and hold a public hearing on May 29, 2024, at 10:30 a.m. to consider approving and adopting assessment rate charges; and
c. Direct the Clerk of the Board of Supervisors to publish a hearing notice once a week for two consecutive weeks prior to the date set for the hearing.
Report
RECOMMENDATION:
It is recommended that the Finance Committee recommend that the Monterey County Water Resources Agency Board of Directors recommend that the Monterey County Water Resources Agency Board of Supervisors to:
a. Approve and adopt the Fiscal Year (FY) 2024-25 assessment charges with cost-of-living adjustment (COLA) increase of 2.4% for Flood Zones 1, 1A, 8, 9, 12, and 17; and
b. Set and hold a public hearing on May 29, 2024, at 10:30 p.m. to consider approving and adopting assessment rate charges; and
c. Direct the Clerk of the Board of Supervisors to publish a hearing notice once a week for two consecutive weeks prior to the date set for the hearing.
SUMMARY/DISCUSSION:
The Monterey County Water Resource Agency ("Agency") ordinances that govern MCWRA flood zones are Ordinance Nos. 2626, 2974, 3878, and 3881 ("Ordinances"). These Ordinances were adopted for the main purposes of protecting life and property, and reducing the impact caused by flooding.
MCWRA requests a FY 2024-25 COLA increase of 2.4% to the assessments of MCWRA's flood control benefit assessment zones below, based on the annual change in Consumer Price Index (CPI) February 2023 -February 2024 for the San Francisco, Oakland and San Jose urban area:
* Zones 1 & 1A - Pajaro River Fund 112
* Zone 8 - Soledad Storm Drain Fund 121
* Zone 9 - Reclamation Ditch Fun...
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