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Board authorizes partial payment for sewer rehabilitation; staff says WQIP pre-financing accelerates cash flow
Summary
The board approved partial payment No. 13 to National Water Maiden Cleaning (text as read) for Phase 1 of sewer system rehabilitation and discussed Water Quality Infrastructure Program (WQIP) pre-financing that allows the city to pay invoices and receive reimbursement later.
The Board of Estimate and Contract on May 20 authorized partial payment number 13 for sewer system rehabilitation Phase 1 to the contractor shown in the record and discussed how the Water Quality Infrastructure Program (WQIP) reimbursement process offsets cash-flow timing.
City staff explained that the WQIP reimbursement typically takes about one month but that the city attaches requests to a pre-financing mechanism that provides funds ahead of reimbursement. Officials said the pre-financing acts like a revolving fund and helps the city manage invoice payments when cash flow is tight; the maximum per request was described as $2,500,000 with the first request near $2.2 million.
The board approved the payment by roll call; Comptroller Morton, Council President Brown and Mayor Patterson Howard are recorded as voting "Aye." Staff noted the pre-financing arrangement may need to be revisited if amounts or the pace of work increase.
