Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Lynchburg council approves financing package for Blackwater CSO tunnel, including low‑interest loan and principal forgiveness
Summary
Council approved issuing up to $29.395 million in sewer revenue bonds and entering agreements to accept $24.705 million in principal forgiveness to finance the Blackwater combined sewer overflow tunnel; council vote was 7-0.
City Council voted unanimously to adopt a resolution authorizing a financing package for the Blackwater combined sewer overflow (CSO) tunnel, intended to secure low-cost funding and principal forgiveness to limit Lynchburg's local cost for the project.
Tim Mitchell, Director of the Department of Water Resources, described the project as the largest capital project in Lynchburg's history "from a financial standpoint," and said the tunnel restores sewer capacity to the Blackwater Creek interceptor and meets requirements of the city's CSO long-term control plan and a state consent order. He told council the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
