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Stanfiec <br />CITY OF ELK RIVER -STORM WATER UTILITY <br />Proposed Storm Water Utility Fees <br />June 25, 2012 <br />A spreadsheet has been developed which identifies the property types and REF per parcel. <br />Summarized below is the number of REFs per parcel at the time of this report. It's expected the <br />total number of REFs will continue to change over time based on further review and as <br />additional development occurs. <br />Residential 7,347 REFs <br />Commercial/Industrial/Other 10,826 REFs <br />Total 18,173 REFs <br />4.2 PROPOSED STORM WATER UTILITY BUDGET WITH STORMWATER <br />UTILITY FEE REVENUE <br />The budget identified for the storm water utility is approximately $650,000/year. Therefore, the <br />approximate rate/REF is $36/year as noted below. <br />Estimated Budget = $650,000 <br />Total REFs = 18,173 REFs <br />Rate/REF/Year = $36 ($650,000/18,173 REFs) <br />Table 4 shows the storm water utility budget with a storm water utility fee implemented to <br />generate additional funding. <br />Project No. 193802143 4.13 <br />