Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Water Bureau seeks interim line of credit to maintain filtration project during land‑use remand
Summary
Portland Water Bureau and finance staff told the committee March 24 they plan interim, tax‑exempt borrowing to cover essential site and standby costs while a land‑use remand pauses construction. Staff described a bridging strategy to repay the facility when federal WIFIA financing becomes available.
The Portland Finance Committee on March 24 heard an update from the Portland Water Bureau and the city’s finance team about the filtration plant project and an interim borrowing strategy to cover costs while construction is paused under a Multnomah County land‑use remand.
Jonas Beery, deputy city administrator for budget and finance and the city’s chief financial officer, told the committee the city seeks an interim borrowing facility — effectively a tax‑exempt line of credit — to bridge near‑term cash needs until it can regain access to federal WIFIA financing. “Part of the strategy with this interim borrowing is to bridge until we can regain access to that loan, at which point the line of credit would be repaid,” Beery said.
Jody, the Portland Water Bureau’s chief engineer, described the remand process and explained what the pause means for on‑site work. The project entered a pause on Feb. 25; under state guidance the county has 120…
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
