Credit River Water Management Strategy Update – Municipal Stormwater Financing Study
As program funding is identified as a barrier to the implementation of recommended stormwater management projects and was included as a key recommendation in the Credit River Water Management Strategy Update (CRWMSU) final report (CVC, April 2007), in June 2007, CVC contracted with Totten Sims Hubicki Associates (TSH) to provide an overview of various funding mechanisms employed in North America to support stormwater management (SWM) programs and conduct two conceptual financial analyses within the Credit River watershed.
The objectives of the CRWMSU Municipal Stormwater Financing Study included:
- Review and evaluate stormwater funding options that have been used as successful financial models for SWM programs throughout North America, including representative case studies from communities that best reflect the needs and issues of CVC member municipalities;
- Hold a working session with the CRWMSU Management Steering Group to confirm goals and objectives for the financial analysis and explore related issues generated by the participants;
- Conduct a conceptual stormwater rate analysis for selected CVC member municipalities to explore rate structure options and establish preliminary revenue expectations; and
- Document the results and findings in a report, with follow-up presentations to the CRWMSU Management Steering Group and CVC Board of Directors