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Palm Coast will be discussing increasing the water and wastewater utility rates at two upcoming city meetings.
A rate study conducted by the city showed the existing rates would not be enough to cover “forthcoming operating expenditures, capital funding requirements, debt service payments, and bond coverage requirements,” a Palm Coast press release said. The Palm Coast City Council will meet at 9 a.m. on Feb. 20 and 6 p.m. March 5 to discuss adopting an increase to water and sewer rates, fees, and charges.
The meeting will be held in the City Hall, located at 160 Lake Avenue, in the Council Chambers. The press release was sent out in accordance with Florida Statute 180.136 which requires the city to provide public notice when considering adopting such an ordinance.
If no action is taken, city reserves are “projected to be less than the required minimum by 2025 and exhausted by 2027,” the press release said.
The council previously discussed the issue at a November meeting and will be reviewing two rate adjustment options. Option 1 proposes a 12.5% increase, effective Oct. 1. Option 2 proposes two 6% increases, one effective April 1 and the other following on Oct. 1.
Both options will also include a Lifeline Tier, which will lower the cost for those homes that use between 0-2,000 gallons a month, the press release said. In both options, impact fees for water and sewer will increase by 50% over the next four years.
The city encourages residents to participate in this critical dialogue as it takes steps to safeguard its infrastructure for the future, meet the demands of growth and remain fiscally responsible, the press release said.