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Council approves $7.51 million award for Hopps flood-mitigation project; Water Trust loan portion set at 13%
Summary
Roswell awarded Constructors Inc. a $7,513,529.03 contract for the Hopps flood mitigation project funded largely by a Water Trust Board grant; the loan portion is 13% at 0.25% interest amortized over 20 years.
The Roswell City Council approved the award of a $7,513,529.03 construction contract on June 12 for the Hopps flood-mitigation project, with funding tied to a New Mexico Water Trust Board agreement.
City staff reported bids were received May 13 and three firms bid the work; Constructors Incorporated was the lowest responsive bidder. The Water Trust Board agreement (WTF5949) tied to this project had a remaining balance of $8,551,262, staff said. Under the agreement, 87% of the project cost is grant funding and 13% is a loan; for the Constructors award that equates to approximately $6,536,770.26 in grant funds and $976,758.77 in loan funds.
Staff said the Water Trust loan carries an interest rate of 0.25% with a repayment schedule extending to 2045 (a 20‑year term). The funding agreement for the project was approved by the city council in April 2024; design work was procured in mid‑2024 and the engineering design was completed in March 2025.
Councilors asked financial and schedule questions. Staff noted the project schedule anticipates start in July and emphasized that the Water Trust funds and the city’s capital planning support the project. The project packet included a bid tabulation and noted the design engineer as Nick Nichols.
Council approved the award on a roll call vote; the motion was recorded as carried by a council majority. Staff said additional project-level details and contractor schedules will be provided as the contract is executed and work begins.
