WithersRavenel undertook a Stormwater Program Rate Study for the City of Bessemer City. Our firm re-evaluated the existing stormwater rate structure and drafted a revised structure that addressed the City’s short- and long-term operations, maintenance and capital needs.
WithersRavenel’s Capital Improvement Plan (CIP) strategy included developing preliminary project scopes for stormwater projects and associated rough costs for a 10-year time frame as well as rough costs for annual MS4 compliance. Our team summarized capital funding assumptions for proposed projects along with related debt service requirements. We also worked with Bessemer City to develop financial assumptions, reviewed relevant questions and assumptions with the project leadership group at one meeting and summarized all assumptions regarding capital outlay and debt-funded capital projects. As part of the final draft, WithersRavenel created a schedule of projects according to prioritization and anticipated fund reserves. Our team also determined a Capital Funding Strategy for implementing the CIP and establishment of a reasonable fund reserve to support planned capital projects and emergency expenditures.
WithersRavenel also provided a financial analysis model, stormwater rate model and a draft stormwater ordinance update.