No, the Rebate does not reduce the stormwater fee you will pay. After the new stormwater fee comes into effect, part of water utility fees representing wastewater will be reduced, minimizing the overall increase in fees for property owners. Therefore, property owners will see only a few percentage point increase on their bill.
The Rain Ready Rebate is meant to incentivize the installation of new Low Impact Development features in order to address stormwater on a lot by lot basis on residential properties.