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Commission approves interim loan agreement amendment to add reuse project
Summary
The commission approved Amendment No. 3 to an interim loan agreement to add a reuse project to the grant map following a recent ordinance amendment.
The City Commission approved interim loan agreement Amendment No. 3 to add a reuse project to the city’s grant map.
Staff told the commission the amendment follows an ordinance change approved March 15 that added reuse projects to the grant map; Amendment No. 3 updates the agreement amount to reflect the newly added project costs. Staff provided an updated cost sheet to commissioners showing the revised funding and confirmed it matches the project cost included in the packet. The commission approved the amendment on roll call.
Why it matters: The amendment formally adds a reuse project to the interim loan agreement and adjusts the agreement amount to match project costs, paving the way for next steps in project delivery.
Commissioners asked whether the amendment is part of phase 1 of reviews; staff confirmed it is and said additional details are included in the updated cost sheet provided at the meeting. The amendment passed and staff will incorporate the revised agreement amount into contract documents and project tracking.
