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Q&A
Funding implications of proposed stormwater management plan
0:46:08
·
73 sec
Council Member Marmorato and Kathryn Mallon discuss the potential financial impacts of implementing the proposed stormwater management plan, including its effects on DEP's budget and possible implications for ratepayers.
- Mallon confirms that implementing the plan will require additional capital funding, estimated at about $30 billion for the highest priority flood areas
- The discussion touches on the challenge of balancing new stormwater infrastructure investments with maintaining existing assets and meeting regulatory mandates
- Mallon mentions that DEP is exploring alternative funding streams and rate charges to support the system's needs
- The conversation highlights the significant financial commitment required to address stormwater management challenges in NYC
Kristy Marmorato
0:46:08
Thank you.
0:46:08
So, I just wanted to talk about the, legislation
Sarah Evans
0:46:13
for
Kristy Marmorato
0:46:13
a second about the stormwater plan.
0:46:16
Would the implementation of the proposed storm water plan require DEP to commit a greater portion of its budget towards infrastructure projects?
0:46:25
And if so, how would this impact water and sewer costs for rate payers?
Kathryn Mallon
0:46:31
So, yeah.
0:46:32
Implementing the plan is gonna require additional capital funding.
0:46:36
I think in the stormwater report we sent out, it's about 30,000,000,000 worth of infrastructure cost just for the highest priority flood areas.
0:46:45
So, yeah, it it and, at the same time, we can't divert water away from the other aspects of our capital program around keeping our assets in a state of good repair and and meeting all our regulatory mandates.
Kristy Marmorato
0:46:59
Okay.
0:46:59
So how how are we gonna get that funding?
0:47:02
Is this gonna affect their rates?
Kathryn Mallon
0:47:05
That's one of the reasons why we're looking at other types of funding streams, and, you know, rate charges to help support all of the needs of the system.
0:47:17
But, yeah, it's, it's a significant amount of investment.