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Council committee approves bond code change to enable OWDA refinancing; sewer contracts and capital projects authorized

Finance, Diversity, Equity and Inclusion Committee of the Cleveland City Council · October 28, 2025

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Summary

Committee approved amendments to allow participation in an OWDA refinancing projected to save about $4.3 million over 20 years, and authorized standard as‑needed and capital sewer replacement contracts and projects funded primarily with bond proceeds.

The committee approved amendments to the water pollution control (WPC) bond ordinance and a companion ordinance authorizing the city to apply to the Ohio Water Development Authority (OWDA) for refinancing of WPC revenue bonds (ordinances 1210‑2025 and 1211‑2025). City staff said the refinancing opportunity could produce approximately $4.3 million in savings over 20 years and that the total interest cost on the proposed refinancing would be about 3.2 percent.

Separately, the committee approved emergency, as‑needed construction contracts for sewer replacement, relining, repair of sewer connections, and catch basins/manholes (ordinance 1219‑2025). Staff described the expected annual spending levels for those as‑needed contracts — about $2,000,000 for relining/rehabilitation, $500,000 for sewer connections and $500,000 for catch basins and manholes — and noted a plan to align contract expiration dates in the coming procurement cycle.

City staff also presented an ordinance (1220‑2025) authorizing capital sewer replacement projects at multiple streets; staff said these projects are identified per the division’s five‑year capital plan and are primarily funded with bond proceeds already borrowed within the last 18 months.

Why it matters: The OWDA refinancing could lower long‑term costs for the WPC enterprise and ultimately benefit utility ratepayers. The as‑needed and capital authorizations permit the division to continue emergency repairs and multi‑site capital replacement work.

Follow-up: Staff said they will pursue OWDA board approval in November and will proceed with procurement activities to align contract expirations and award the routine contracts.