The City of Prescott is evaluating current development impact fees and utility rates. The study will guide the City Council on setting rates and fees to pay for both the projected future infrastructure needs of the city and utility operations. This page will contain information about the combined process.
The main objective of the utility rate study includes developing financial plans for the water and wastewater enterprises to ensure financial sufficiency, meet operation and maintenance costs, ensure sufficient funding for the capital replacement and refurbishment needs, and maintain the financial health of the enterprises.
That main objective is then balanced with a cost-of-service analysis by customer classes, and design rates consistent with the City’s priorities that recover customer class cost of service.
This rate study will be done simultaneously with the development impact fee study to balance which capital project needs are attributed to new development and can be recovered through the development impact fees.
Development Impact Fees for infrastructure are assessed to contribute to costs associated with various infrastructure and necessary public service improvements that need to be expanded as a direct result of development within the City of Prescott.
New development areas can require substantial investment and construction of capital facilities before or in conjunction with future development depending on the location of the development and existing infrastructure.
The schedule of events for meetings is in the able below and the associated documents will be posted as they become available.
|February 13, 2024
|Adoption of Notice of Intent (Revised), set public hearing date for utility rates
|May 14, 2024
Study session for impact fees (Infrastructure Improvement Plan and Land Use Assumptions)
Study session on utility rates
|May 28, 2024
Public hearing on the Infrastructure Improvement Plan and Land Use Assumptions
Public hearing and adoption of utility rates
|Effective Date for Rates
|July 1, 2024
|New utility rates in effect
|July 9, 2024
|Study session on impact fees
|July 9, 2024
Adoption of the Infrastructure Improvement Plan and the Land Use Assumptions
Adopt Notice of Intent and set public hearing on impact fees
|August 27, 2024
|Public hearing on impact fees
|October 8, 2024
|Adoption of impact fees
|Effective Date for Impact Fees
|January 1, 2025
|New impact fees in effect