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<br />l;<lvmnrnenl. and the Utility Director reportS direl:tly to the City Manager. The Storm- <br />water Utility utilizes a Drainage Board, which is appointed by the City Council, 10 as~ist <br />in developing basic plans and in proposing budgetary priorities. The City Council <br />approves the City budget and makes the fmal dctermination concerning the construction <br />ofSlormwaterand l100deonlrol measures, <br /> <br />RIo,1'<! <In ~v~il~hle sources of revenuc. the City of Fort Collins would have the <br />financial ability to cost-share feasibility studics and C<lnstructio n ofllood control <br />measuresonDI')'Creek, should it decide wproceed to the fcasibilityphasc. <br /> <br />Since 1982, the City has relied on utility fees charged \0 property owners and <br />developers aSlhe means of providing funding for drainage and f1aodcontrol improve. <br />ments in the City. Thc fecs are based on the land's runoff contriblltion, size of the <br />parcel, and typcand intensity of land use. There are separate fees charged for capital <br />improvements and for operation and maintenance. In 1991, the City raised approx- <br />imately $1.4 million for SlOrmwater and flood-related capital improvements. <br /> <br />The Stormwater Utility O&M fee in 1991 was $1.81 per month for a typical resi- <br />dentiallot in the City. Capical improvement fees vary for C<lch drainage are<'! and are <br />depcndei\t 011 the needs of the particular basin. Currently, the highest fee asse,scd is <br />$3,58 per month for a lypical single family home, A typical single family home in the <br />Dry Crct:k hasl:! lsassessed $1.70 per monlh. In 1991. thisassessme:Jt temllL>d $25,755. <br />An additional $2,744 was available from feesasscsscd todevelopcrs, resulting in a cap- <br />il<ll improvement fund incomc of about $28.500 for 1991. There i,currently $224,321 <br />in theOry Creek capital improvement fund for drainage and floodcontrolimprovcrncnts. <br />lf the City a,sessed the highest current a~scssmenl of $3.58 per month, mure than <br />$77,7l5 could be raised annually for capital improvements with an additional 52.000 to <br />$3,000 annllally fwm developers. <br /> <br />The City issiled $6.1 million in stormwater utility revenuc bonds in December 1991 <br />atanannualintcreSlraIC!1t'6.3perccntfora20ycarp.:riod. The S669.2S0annual pay- <br />mcr,:is obtaincd from utilityfCt's <br /> <br />7-7 <br /> <br />'.8 <br />