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City finance staff reports Call Lake water program near completion, $10.2 million payment due mid-month
Summary
Finance staff updated the Mayor and Board of Commissioners on the Call Lake water supply program, reporting strong sales-tax collections, $82 million collected to date, two outstanding loans and a combined $10.2 million payment due on the 15th of the month.
Erin, a finance staff member, told the Mayor and Board of Commissioners the Call Lake water supply program is largely complete and its finances remain on track.
The Call Lake program has collected about $82 million in sales tax and earned roughly $1.5 million in interest, Erin said. Of the program’s $344.7 million budgeted amount, staff reported $335.1 million expended to date, with about $9.3 million under contract and roughly $308,000 remaining in the program budget.
The update noted two remaining open loans tied to the program: a 2019 loan with roughly $15 million left and a 2020 SRF…
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