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City managers tell council $782,118 shortfall remains on $44 million wastewater project
Summary
City staff told the Seminole City Council that a $44 million upgrade to the wastewater treatment plant will leave the city about $782,118 short of covering annual debt and operating costs and presented a menu of options including staff cuts, capital deferrals, a sewer-rate increase and a small sales-tax increase.
Seminole city staff told the City Council on a funding update that the municipal wastewater treatment plant project will require additional local funding beyond previously planned sources.
City Manager Steve Saxon said the project’s construction bids pushed the expected cost far above the original $21 million planning figure, and that the city now estimates a $44 million financing need. "We went to the USDA and they agreed to loan the additional dollars and give a $2,000,000 grant," Saxon said. "Taking into account the sales tax and loan, we're short about $782,000, to be…
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