FY23 FULL BUDGET REPORT ADOPTED

Stormwater CIP (Adopted) The Stormwater CIP (SWCIP) is based on the Stormwater Master Plan Study completed in FY2021 and is supported by a proposed increase in the ERU Fee to largely apply a Pay-Go funding. While the SWCIP illustrated here shows 5-years the study proposed a 10-year plan that are reflected in the Future column. The SWCIP will actively address ten identified stormwater area of concerns outlined in the study.

Annualized Cost Escalator

1.05

1.10

1.15

1.20

1.25

1.30

2021 Study Cost Estimate

Study Priority

STORMWATER CIP

2023

2024

2025

2026

2027

Future

Total

Phase 1 Stormwater Projects McCrimmon Pkwy #1

$ $ $ $ $ $ $ $ $ $

180,000 220,000

1 4 8 2 6 7

$

216,000

$ $ $ $ $ $ $ $ $ $ $

- - -

$ $ $ $ $ $ $ $ $ $ $

216,000 231,000

Wolfsnare Ln Culvert #4

$ $

231,000 227,100

Savannah Subdivision &MCR Culvert #8

1,340,000

$

715,000

$

621,000

1,563,100

Phase 2 Stormwater Projects Garden Sq. Lane & Greenway #2*

880,000 890,000

$

137,500

1,001,000 1,157,000 2,236,000 2,470,000

1,138,500 1,157,000 2,236,000 2,470,000

MCR (West of Millet Dr) #6 Chessway Dr Culvert #7

1,720,000 1,900,000

Morrisville Tributary Stream Restoration #10*

10

Phase 3 Stormwater Projects Town Hall Dr. Culvert #3 MCR West of Davis #5 MCR West of Madres Ln #9

1,340,000

3 5 9

1,742,000

1,742,000

500,000

650,000

650,000

1,050,000 10,020,000

1,365,000 10,621,000

1,365,000 12,768,600

Total SW CIP Projects

$

$

458,100

$

715,000

$

621,000

$

216,000

$

137,500

FUNDING PLAN SUMMARY

Total

STORMWATER FUND BALANCE

$

240,000

$

151,900

$

52,269

$

-

$

-

$

1,199,670

$

1,643,839

STORMWATER CAPITAL PROJECT (FEE ALLOCATION)

$

218,100

$

563,100

$

568,731

$

216,000

$

137,500

$

4,405,941

$

6,109,372

TBD

TBD

GRANT*

DEBT

$

5,015,389

$

5,015,389

Total Funding Assumptions

$

458,100 $

715,000 $

621,000 $

216,000 $

137,500 $ 10,621,000 $ 12,768,600

*Grant potential for several projects through County and Federal sources. Staff is actively pursuing other sources.

Assumptions:

✓

Fund balance = 2% annual growth.

✓

Reserve allocation = 2% annual growth.

✓

Cost escalators = 5% annual growth.

✓ Grant items – department has applied for Wake County grant for Tributary Stream project and plans to apply for other ARPA federal funds for culvert projects..

Note: The CIP demonstrates Active Projects, Future Conceptual Projects, proposed Funding Summary and anticipated Debt Obligation. The CIP is evaluted annually and is due for a major update in accordance to CIP Policy in Fiscal Year 2023.

93