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City Of <br />Louisville <br />COLORADO • SINCE 1.878 <br />FINANCE COMMITTEE <br />COMMUNICATION <br />SUBJECT: UPDATE TO THE ANNUAL SENIOR WATER REBATE PROGRAM <br />DATE: MAY 16, 2024 <br />PRESENTED BY: JORDAN GOTSKI, ACCOUNTING TECHNICIAN, <br />RYDER BAILEY, CPA, FINANCE DIRECTOR <br />SUMMARY: <br />ITEM 2 <br />In 2007, City Council, by Resolution 1515, adopted the Annual Senior Water Rebate <br />Program for Louisville residents over the age of 65 and a household income of less than <br />$25,000. <br />The Annual Rebate amount ($100) and the maximum household income have not been <br />modified since 2007. Finance Staff administering the program has seen recent <br />participation at an all-time low. <br />BACKGROUND: <br />Staff is proposing adjusting the annual rebate amount and maximum household income <br />to adjust for inflation since 2007. Calculated using a Regional CPI from the Bureau of <br />Labor Statistics (BLS), this would increase the annual rebate amount from $100 to $150, <br />and the maximum household income from $25,000 to $40,000 (Single Person Household) <br />and to $45,000 (2 or more person Households). This level is approximately 30-35% of <br />Boulder County Area Medium Income per Housing and Urban Development (HUD). Staff <br />also is proposing lowering the eligible age of the applicant from 65 to 60, to better align <br />with other City administered Senior program eligibility criteria. Staff will plan to re -visit <br />these thresholds more frequently in the future, and no less than every fifth year. <br />SUMMARY OF PROPOSED ADJUSTMENTS TO EXISTING PROGRAM: <br />Increasing annual amount by $50, from $100 to $150. <br />Lowering the qualifying age of the applicant from 65 to 60 years to better align with <br />other senior program eligibility criteria. <br />Increasing the maximum household income from $25,000 to $40,000 (Single <br />Person Household) or $45,000 (2 or more person Households). <br />FISCAL IMPACT: <br />While Staff cannot precisely estimate Senior participation in the Water Rebate Program, <br />we expect an increase from 2023 participation levels, which were 12 households, or <br />$1,200. <br />FINANCE COMMITTEE COMMUNICATION <br />9/90 <br />