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City advances multi-million-dollar lead service-line and other capital projects; staff flag loan timing and $8 million in deferred work
Summary
City staff told the finance committee they are pursuing multiple large capital efforts — including a roughly $14 million lead-service-line project and a larger 2026 application — and that state loan-closing schedules, principal-forgiveness awards and shrinking TID increments shape borrowing and deferral choices.
City staff presented the committee with the capital portion of the 2026 plan and said timing at the state level will shape how much is borrowed this year versus next. Mary Anne described a lead-service-line program the city has been advancing: the 2025 project is presented as roughly $14 million total (about $9 million private/ homeowner side and $5 million utility side) with substantial principal forgiveness estimated for the private side (roughly $7.7 million) that would leave the city borrowing in the neighborhood of $1.3 million under current estimates.
Staff also described a larger 2026 lead-service-line application in process. Under one scenario the full private-side program could total as…
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