EAPP Funding Alternative1
EAPP Funding Alternative1
AQUIFER
PROTECTION
PROGRAM
FUNDING
ALTERNATIVE
Presented by:
Homer Garcia III
Parks and Recreation Director
Ben Gorzell
Chief Financial Officer
September 17, 2020
Photo: Seco Sinkhole, Hammond Ranch, Medina County
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B ACKGROUND
ON THE
EDWARDS AQUIFER
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EAPP PROPERTY EVALUATION PROCESS
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CONSERVATION
ADVISORY CAB Representatives
BOARD (CAB)
• Edwards Aquifer Authority
• Created in April 2000 • Parks and Recreation Board
• Provides input and • Parks and Recreation Department Director
advice to City Council • San Antonio River Authority
on the Program
• San Antonio Water System
• 9 City Council-
• San Antonio Economic Development Foundation
Appointed Members
• Texas Parks and Wildlife Department
• Medina County
• Uvalde County 5
EAPP FUNDING PROPOSITION HISTORY
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City staff evaluated other funding • City contracts with MFC to
options, in conjunction with • City Charter limitations on carry out the EAPP on City’s
outside bond counsel, to continue behalf
the EAPP
general obligation debt for
“public works” • Mayor & Council are MFC
Goals: Board of Directors
• Provide the next iteration of
• Developed option through
ownership of SAWS and local • Debt service and cash funding
funding for the EAPP requirements come from
government statutes
• Keep program under anticipated future growth in
administration of the City • Utilizes existing Municipal City’s General Fund
• Maintain current operational Facilities Corporation (MFC) • Financing recognizes unique
structure including CAB nature of EAPP
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KEY TERMS OF MFC AGREEMENT
Total Commitment: $100 million Annual Program Funding Conservation Advisory Board
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KEY TERMS OF MFC AGREEMENT
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KEY TERMS OF MFC AGREEMENT
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Conservation
Advisory Board
advises City of San Antonio
issues
Bond debt Municipal Facilities Corporation
holders
debt service
Cash
funding
debt proceeds
Requirements funded
Funding of $10 million
25-year amortization from anticipated
per year over 10
of long-term debt future growth in
years
City’s General Fund
Actual impact to the General Fund will vary based on the conditions present at that
time and the management of the Program and Finance Plan from year to year
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PRELIMINARY PROJECTED IMPACT
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NEXT STEPS
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