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Denton board approves $100,000 fee to pursue $770.97 million WIFIA line for water and wastewater projects
Summary
The City of Denton Public Utilities Board voted unanimously Feb. 10 to pay a $100,000 application fee to pursue a Water Infrastructure Finance and Innovation Act (WIFIA) loan package that could cover up to 49% of a roughly $771 million five‑year water and wastewater capital program.
The City of Denton Public Utilities Board on Feb. 10 voted unanimously to authorize payment of a $100,000 application fee to pursue a Water Infrastructure Finance and Innovation Act (WIFIA) loan that could provide up to 49% of financing for the city’s five‑year water and wastewater capital improvement program.
Stephen Gay, general manager for water utilities and street operations, told the board the city is seeking a WIFIA master agreement with the U.S. Environmental Protection Agency that would let Denton draw down funds as needed rather than sell all debt immediately. "This morning we're gonna discuss our application for the US Environmental Protection Agency's WIFIA program," Gay said.
Jessica Williams, the city’s chief financial officer, said the application fee covers processing and that WIFIA can finance up to 49% of total eligible costs. "The 51% that…
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