Crown Point wins top SRF ranking; board approves interceptor task order and small disbursement

Crown Point City officials told the Board of Public Works and Safety on June 18 that draft State Revolving Fund rankings put two city projects at the top of the statewide list and the board approved related contract and disbursement actions.

The SRF draft rankings are out, and Crown Point is number 1 and number 4 on the ranking list, the city’s utilities presenter said, noting the downtown interceptor earned the No. 1 spot. The board unanimously approved SRF disbursement number 43, $9,807, for work on the city’s Phase 4 water project.

Why it matters: SRF preferred financing typically reduces borrowing costs for top-ranked projects. The presenter said projects in the top group have previously received preferred financing that cut interest rates substantially. That financing treatment is why the board moved forward with closing-related paperwork and task orders at the…