Board of Trustees Action Items
Wednesday, September 28, 2022

Water Credit Agreement Approved

A water credit agreement between the Town of Firestone and Blackburn Communities, LLC was approved during the Wednesday, September 28, Board of Trustees meeting. The Blackburn Communities, LLC project is a multi-family development south of Home Depot on Jake Jabs Boulevard, currently going through the planning process with the Town. During this process, a developer must show that they can fully satisfy the Town's water dedication requirements.

Town staff determined there is availability for Blackburn Communities, LLC to acquire 84 Native Water Credits from the Town. This agreement will allow the development to have water to satisfy the water dedication requirements needed for their development. Upon execution of the Agreement, Blackburn Communities, LLC will be obligated to pay the Town $3,700,000.00 no later than November 30, 2022, to use 84 Native Water Credits. All fees will be paid to the Town of Firestone Water Activity Enterprise fund.

2023 Budget Presentation

The Board of Trustees began reviewing the 2023 proposed budget in a Work Session on Wednesday, September 21. All Department Directors presented their budgets for the General Fund. During the Board Meeting on Wednesday, September 28, the Capital Projects Fund, Debt Service Fund, Conservation Trust Fund, Firestone Urban Renewal Authority, and Stormwater Fund were presented.

View the following fund's proposed 2023 budget documents:

General Fund Budget (from 09.21.2022)
Capital Projects Fund Budget (from 09.28.2022)
Debt Service Fund Budget (from 09.28.2022)
Conservation Trust Fund Budget (from 09.28.2022)
Firestone Urban Renewal Authority Budget (from 09.28.2022)
Stormwater Fund Budget (from 09.28.2022)

According to the schedule below, after subsequent funds are presented and discussed, those documents will be posted online at www.firestoneco.gov/budget. Please note that these numbers are proposed and subject to change.

Upcoming Tentative Budget Calendar

Wednesday, October 19: the Water Fund and the Capital Improvement Fund will be reviewed
Wednesday, October 26: Review of Proposed Budget
Wednesday, November 9: Review of Proposed Budget, if necessary
Wednesday, November 16: Budget Adoption in a Public Hearing

Central Weld County Water District Water Rate Increase
Presentation & Discussion

During Wednesday night's meeting, Town staff presented to the Board of Trustees the most recent Central Weld County Water District's (CWCWD) rate increase and its implications on the Town. The Town of Firestone relies on CWCWD for water treatment and pays CWCWD directly for those costs. A portion of the revenue received from utility bill payments is remitted monthly to CWCWD for those treatment costs.

Since November 2019, the Town of Firestone has absorbed four CWCWD rate increases. In 2019, there was a 25% increase to usage rates and an 8% increase to the base rate. In November of 2020, there was a 4% increase to usage rates and a 4% increase to the base rate. In February of 2021, there was a 44% increase to usage rates and a 0% increase to the base rate.

In August, CWCWD informed the Town of Firestone that effective November 1, 2022 there would be a 55% increase to usage rates and a 4% increase to the base rate.

Based on past direction from the Board, the Town has absorbed all of these rate increases. Since 2019 the Town has absorbed $556,202 in rate increases. If the Town continues to absorb rate increases from CWCWD, it will be required to supplement Water Treatment costs with other revenue sources.

To accurately budget revenues for the 2023 Water Fund, staff was looking for direction from the Board of Trustees on how they would like to handle these upcoming rate increases. No action was taken. The 2023 Water Fund budget will be presented and discussed at the October 19, 2022 Work Session.

Additional Information

View the complete September 28, 2022 Board of Trustees Meeting Packet here.

Board of Trustees Action Items are brief summaries of some, but not all, agenda items and do not serve as the official meeting minutes. To request approved meeting minutes of Board of Trustees meetings, please contact the Town Clerk's Office at townclerk@firestoneco.gov.