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Dunedin authorizes SRF loan amendment to extend construction timeline, add $295,000 for wastewater projects
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Summary
The Dunedin City Commission on Oct. 23 approved Resolution 25‑31, authorizing a third amendment to the city’s FDEP State Revolving Fund loan agreement to add a one‑year extension and $295,000 for technical construction services for wastewater projects.
The Dunedin City Commission on Oct. 23 approved Resolution 25‑31 authorizing execution of Amendment No. 3 to the city’s FDEP State Revolving Fund (SRF) loan agreement (WW5202C1), adding a one‑year time extension and a $295,000 increase to cover technical services during construction for ongoing wastewater projects.
Alex Gonzales, the city’s project engineer, told the commission the city originally secured a clean water SRF loan in 2021 for various wastewater projects, including an electrical upgrade at the wastewater treatment plant. The SRF program operates on an annual cycle and staff said they periodically return to the commission seeking one‑year extensions as projects and draws progress.
Gonzales summarized the recommendation as approval of the third amendment: a one‑year time extension plus a $295,000 loan increase for reimbursable technical services, producing a total potential reimbursable amount the staff cited as roughly $23,495,152 for the combined SRF agreements as presented.
Commissioners asked technical questions about interest rates and draw procedures. Staff clarified that different portions of the SRF obligations carry different interest rates based on when the funding was allocated: the original loan portion was reported as 0.00%, a prior amendment increased part of the loan at 0.4%, and the $295,000 portion in the current amendment carries an interest rate of about 2.04%. Staff also confirmed the SRF mechanism is reimbursement‑based: the city submits invoices as contractor payments occur and is reimbursed per the SRF process.
Commissioners and staff discussed project timing; staff said the largest individual project in the loan package—the wastewater treatment plant electrical upgrades (about $16 million by staff account)—is getting underway and that reimbursements will follow submitted contractor invoices.
The commission voted unanimously to adopt Resolution 25‑31. Roll‑call votes recorded Commissioner Dugard, Commissioner Walker and Vice Mayor Jeff Gall voting Aye.
Staff recommended continued coordination with FDEP and noted the amendment repeals Resolution 25‑20 as part of the procedural update presented to the commission.
