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within the Boxelder Floodplain to store stormwater would reduce the threat of floods for <br /> approximately 4,900 acres in the Boxelder Floodplain, which acres are located in portions of the <br /> City, portions of the Town and in unincorporated Larimer County and would reduce damages to <br /> public and private properties, reduce the risk to citizens, increase protection for public roads, <br /> bridges and other facilities in the Boxelder Basin; and <br /> WHEREAS, the parties anticipate that areas in the Basin and in the unincorporated areas <br /> of the County will be annexed into the City or the Town in the future, subject to the urban <br /> growth area boundaries and standards of the City and the Town;and <br /> • <br /> WHEREAS, the elimination of such flood hazards, as well as the resulting relaxation of <br /> associated land use restrictions, would alleviate some of the financial hardships associated with <br /> developing those properties that are now located within the Boxelder Basin; and <br /> WHEREAS,the various risks and hazards existing or anticipated to exist in the Basin can <br /> he alleviated most efficiently and at the least cost through a regional effort;and <br /> WHEREAS, it appears that financing the construction of the needed stormwater facilities <br /> for the Boxelder Basin on a regional basis is best accomplished by the County and the other <br /> Members hereto forming an Authority as provided herein, to include those properties located <br /> within the Boxelder Basin; and <br /> WHEREAS, the City currently charges a City-wide stormwater impact fee as a condition <br /> of issuance of a building permit or, if no building permit is required, upon commencement of <br /> construction for new development on those properties located within the City, and further <br /> charges an ongoing monthly stormwater fee to all developed properties within the City's <br /> boundaries; and <br /> WHEREAS, the Town intends to charge a stormwater basin fee as a condition of <br /> issuance of a building permit or, if no building permit is required, upon commencement of <br /> construction for new development on those properties located within the Town;and <br /> WHEREAS, as noted above, the County currently charges a stormwater basin impact fee <br /> at the time building permits are issued for new development on those properties located in the <br /> unincorporated areas of the County within a portion of the Boxelder Basin; and <br /> WHEREAS, it appears that the financing, construction, maintenance and operation of the <br /> needed stormwater facilities in the Boxelder Basin are best accomplished by the County <br /> expanding or establishing a stormwater utility enterprise (hereinafter referred to jointly as the <br /> "County Stormwater Utility Enterprise") to work cooperatively with the Town's Stormwater <br /> Utility Enterprise and the City's Stormwater Utility Enterprise;and <br /> WHEREAS, construction, operation and maintenance of said additional stormwater <br /> facilities for the Boxelder Basin in accordance with•Urban Storm Drainage Criteria Manual Best <br /> Management Practices is necessary and beneficial to the public health,safety and welfare; and <br /> 7 <br /> • <br />