St. Pete leaders to discuss raising utility rates to fund stormwater improvements

Will St. Pete residents see a utility rate hike?

The St. Petersburg City Council plans to take the first vote Thursday toward potentially raising utility rates to help fund stormwater improvement projects. FOX 13?s Kellie Cowan reports.

ST. PETERSBURG, Fla. - The City of St. Petersburg is looking for ways to fund stormwater improvement projects – and their solution could include raising utility rates.

By the numbers:

According to Mayor Ken Welch, the proposed rate hike would amount to an 8-10% overall increase in residents' utility bills.

The city says St. Pete needs about $614 million in stormwater and wastewater improvements.

Dig deeper:

City officials say raising utility rates would help get projects going more quickly than the previous proposal of raising property taxes, which councilmembers discussed in July.

That's because a property tax hike would have to be approved by voters, and that wouldn't happen before November 2026.

"These projects do take a long time to come to fruition and what we're trying to do with the idea of a general obligation bond is bring more projects to fruition faster," St. Pete City Councilmember Richie Floyd said. "And so it's literally all about accelerating our stormwater master plan and so that's what the goal is here."

READ: Some St. Pete homeowners still waiting for permits nearly one year after Hurricane Helene

What's next:

The proposal is set for its first vote during Thursday's City Council meeting, which starts at 3 p.m.

If it passes the first vote, a second reading would take place in September.