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International Falls council approves $11.844 million guaranteed‑maximum price for water‑plant renovation, 3‑2
Summary
The International Falls City Council voted 3‑2 to approve a guaranteed maximum price contract with Rice Lake Construction to renovate the city water treatment plant, after city staff described financing options including a low‑interest Public Facilities Authority loan and several user‑rate scenarios.
The International Falls City Council voted 3‑2 Monday to approve a guaranteed maximum price (GMP) contract with Rice Lake Construction for renovation of the city’s water treatment plant, authorizing a GMP of $11,844,680 and directing staff to proceed with project financing.
Council members heard a financing briefing before the vote that laid out options to pay the debt service if the council moves forward without additional state bonding. Mr. Golden, a project consultant for the city, told the council the project “is already fundable through the Public Facilities Authority in a low interest loan” because the project has been on the PFA list from prior years. Rob Eklund, the city’s lobbyist, told the council the Minnesota Legislature’s bonding and budget work remained uncertain and could affect whether local projects receive additional state assistance.
The co…
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