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Council approves private placement and schedules WIFA loan to finance Northwest recharge project
Summary
The Town Council approved Resolution R25‑ten on March 19 to authorize a private placement financing of roughly $6 million as part of a larger water project financing package; a separate WIFA loan for the remainder was scheduled for April.
The Town Council approved Resolution R25‑ten on March 19 to authorize a private placement water‑revenue obligation to help finance a portion of the town’s Northwest Recharge/Recovery development system. The financing package is structured as two components: a private placement for the partner portion and a WIFA (Water Infrastructure Financing Authority) loan for the town’s standalone portion; the WIFA transaction was scheduled to return to council in April.
Transaction details summarized to council: Chief Financial Officer Dave Gephart and financial advisor Mark Reeder (Stifel) described the overall project financing need at about $18 million. The private placement component before council was roughly…
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