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Grants Pass staff outline rate options after FEMA BRIC grant loss for treatment plant
Summary
City staff presented three water rate scenarios to finance completion of the replacement water treatment plant after the city lost an anticipated FEMA BRIC grant; councilors asked for business impact analysis and more timeline detail before a vote scheduled for Sept. 3.
City staff told the Grants Pass City Council on Sept. 2 that the city must adopt new water rates before January if it wants to issue bonds in mid-2026 to complete and commission the city’s replacement water treatment plant.
Jason (staff) said the city previously approved a guaranteed maximum price (GMP) and a tentative financing plan for the treatment plant, but the FEMA Building Resilient Infrastructure and Communities (BRIC) grant that the city expected was canceled. That loss increases the borrowing the city must incur and the amount of revenue it must demonstrate to bond markets.
“The issue is the coverage ratio — the difference between the money we have coming in and the money we have going out — and we need to be at least at a 1.25 for us to be able to get the bonds to complete the project,” Jason said during his presentation.
Staff presented three rate scenarios developed with consultants: two options that raise the…
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