Pedestrians and bicyclists use the levee that lines the Bayside of Foster City.
Foster City residents will decide June 5 if they want to pay $90 million to improve the city’s existing levee system now that the City Council unanimously passed a second reading of an ordinance to place the measure on the ballot.
The City Council voted 5-0 Monday to pass the second reading of the ordinance to pay for the levee project, which aims to have it meet Federal Emergency Management Agency standards and amid concerns about sea level rise.
FEMA notified the city in 2015 that its existing levee system lining the San Francisco Bay would no longer protect the community from a 100-year flood, and needed to be raised. The move came after FEMA released a new map placing the Bayfront community into the flood zone and questioned the sufficiency of the levee that protects 9,000 Foster City properties and another 8,000 in San Mateo. The existing levee ranges from 12 feet to 13 feet and FEMA’s highest requirement is for it to be raised 16 feet in certain areas.
To avoid being pulled into the flood zone, the city is striving to meet the requirements outlined by FEMA. Failing to meet those requirements would force property owners with federally backed mortgages to purchase costly flood insurance. It could also lead traditional lenders to require property owners to secure insurance if they’re located in the flood zone.
If the ordinance passes, the city will issue a 30-year general obligation bond. Based on current interest rates, it’s estimated that properties would be taxed on average $39.66 per $100,000 of assessed valuation, according to a staff report. A home assessed at $1 million would have an annual property tax assessment bill of about $390.
Last year, climate change experts released an updated analysis requested by several state entities on how much sea level rise is predicted in California. That report notes various scenarios including a 67 percent chance the Bay Area will see between 1 and 2.4 feet of sea level rise by 2100. It notes even higher rates of rising seas if no mitigation efforts are taken. Both the state and county reports were released in an effort to help local communities plan for a changing climate and potential sea level rise.
If voters approve the ordinance, city staff estimates the levee project will be fully designed and ready for construction bidding by October 2018.
At the meeting, the council decided that Mayor Sam Hindi along with Councilman Herb Perez will draft the primary argument in support of the measure.
Residents have until March 26 to submit rebuttals.
(650) 344-5200 ex. 102
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If your are dumb enough to think voting still matters - I have a big orange bridge in SF to sell you. Only $20
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(1) comment
The article left out two pertinent points:
The assessment can be raised up to 2% every year for 30 years, so the number shown is only good for year one of the bond duration. This means that at the end of the bond duration the assessment could be as much as 1.8X higher
FEMA required its levee height, then the BCDC literally piled on, requiring an even higher levee for accreditation .
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