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Ridgecrest approves engineering amendment to support $110M SRF loan application for new wastewater plant
Summary
Council approved augmenting the city’s contract with Provost & Pritchard to prepare documents for a Clean Water State Revolving Fund (SRF) loan application and related deliverables for the new wastewater treatment plant; staff said the loan would be $110 million at about 2.1% interest and that the work is budgeted.
Ridgecrest
The Ridgecrest City Council on Nov. 5 authorized staff to amend its engineering agreement with Provost & Pritchard to include preparation of documents and technical support needed for a Clean Water State Revolving Fund (SRF) loan application for a proposed new wastewater treatment plant.
Staff reported the SRF loan request would be for approximately $110,000,000 with an estimated interest rate of about 2.1 percent, roughly half of higher market bond rates. The SRF application requires detailed technical and…
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