-Title
Funding and Governance Evaluation Update
Recommended Action
Information only. No action requested.
Report
Issue:
Update and discussion on the Sea Level Rise Response Plan Funding and Governance Evaluation.
Staff Contact:---
Pamela Braff, PhD, Director of Climate Programs, 360.753.8249
Presenter(s):
Rich Hoey, City of Olympia
Lester Kao, CohnReznick
Chris Livingstone, CohnReznick
Background and Analysis:
In March of 2019, the City of Olympia, LOTT Clean Water Alliance and the Port of Olympia completed the Olympia Sea Level Rise (SLR) Response Plan. The aim of the Plan is to protect downtown Olympia, the Port Peninsula, and the LOTT Budd Inlet Treatment Plant from flooding due to predicted sea level rise. The Plan provides a comprehensive strategy for adapting to rising sea levels in both the near and long term.
The Plan estimates the long-term (30+ year) costs of sea level rise adaptation to be $190M - $350M in 2018 dollars. Implementation of these adaptation strategies is expected to protect downtown Olympia from the impacts of sea level rise through 2100. Given the high cost of implementation, the Plan also identified the importance of creating a funding and governance strategy to address and equitably distribute these needed costs.
The Collaborative’s 2023 work plan included the completion of the SLR Funding and Governance Evaluation to identify the most viable approaches to address future funding needs. The scope of work for this evaluation included the following tasks:
• Investigate funding opportunities (federal, state and private grants) for design and construction of Plan strategies.
• Evaluate the viability and pros/cons of forming special district(s) such as a flood or local improvement district, or other similar funding and governance models, to finance and oversee needed sea level rise resilience improvements.
• Identify potential needed legislative actions by the State to support sea level rise planning and strategy implementation.
• Identify other structures or means to fund SLR Plan strategies and investments.
Phase 1 of the Funding and Governance evaluation is nearly complete. Staff and the project consultants (CohnReznick) will provide an update on the final report and discuss next steps for continuing to evaluate funding and governance options.
Climate Analysis:
This item is not expected to impact climate mitigation strategies to reduce greenhouse gas emissions. However, the Funding and Governance evaluation will help the Collaborative more effectively adapt to climate impacts that can no longer be avoided.
Equity Analysis:
This project will provide additional data and guidance on how to fund and implement sea level rise response strategies. Further work is still needed to evaluate approaches for equitable distribution of adaptation costs and benefits.
Neighborhood/Community Interests (if known):
There is considerable community interest in sea level rise planning and implementation of flood protection measures in downtown Olympia.
Options:
Not Applicable
Financial Impact:
Long-term costs to implement sea level rise preparedness strategies are anticipated to be significant. However, no funding requests or recommendations are being provided at this time. Staff are continuing to evaluate approaches for funding and governance of the Sea Level Rise Plan.
Attachments:
Presentation