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Casper officials ask council to advance three state loan applications for sewer and water projects
Summary
City staff described three State Revolving Fund (SRF) loan applications — for North Platte interceptor repairs, replacement of headworks screw pumps, and a drinking-water reservoir project — and asked the council to allow staff to proceed with formal approvals and supplemental funding requests.
City of Casper staff on the council dais asked the Casper City Council to move forward with three State Revolving Fund (SRF) loan applications to pay for wastewater and drinking-water work, including repairs to the North Platte interceptor sewer, replacement of failed screw pumps at the wastewater treatment plant headworks and a plan to replace a leaking buried city reservoir.
Tom, city staff presenting the SRF proposals, told the council the SRF program is funded by the U.S. Environmental Protection Agency and administered through the state and that interest rates range from 0% (when projects meet federal requirements) up to 2.5% over a 20-year term. He said the state has in the past offered “principal forgiveness” — essentially grant funding that can reduce a loan by about 25% — but that new rules defining “disadvantaged communities” make that forgiveness harder for municipalities over 10,000 people.
The SRF requests described to the council were: a $2.8 million SRF loan request for lining the North Platte interceptor sewer (a project the presenter said combines SRF funds with earmarked funds from a state…
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