Business Journal: Fees Would Fund Natomas Levee Repairs
Sacramento’s flood control agency is considering new development fees to help meet a $162 million shortfall for levee projects in Natomas. It means the price for commercial and residential projects may go up in the flood-prone region.
Monday, March 24, 2008
Property owners in Sacramento and southern Sutter County voted to pay annual assessments for flood-protection projects in April and fund some of the original $414 million price tag. Now, the Sacramento Area Flood Control Agency estimates the project will cost $576 million. Additional development fees – ranging from about $1 to $2.70 per square feet — could help cover the increased cost. The dollars will help SAFCA with plans for $2.7 billion in levee improvements to meet 200-year flood protection by 2019. SAFCA has asked the federal government to cover 65 percent of the cost, with 25 percent from the state — and the remaining money coming from local sources.