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SFPUC highlights WESIP progress and approves low-cost green financings amid contractor quality concerns
Summary
The commission received a WESIP progress report showing major construction milestones and approved two low-cost federal green bond financings; public commenters raised welding quality and QA/QC concerns on pipeline work.
Deputy Chief Financial Officer Charles Perle presented two related capital-financing requests at the Oct. 25 San Francisco Public Utilities Commission meeting that together support roughly $14.9 million of green-related projects within PUC enterprises.
Perle said about $8.3 million would be financed with Qualified Energy Conservation Bonds and $6.6 million with Clean Renewable Energy Bonds. He explained the federal interest-subsidy structure — "that 70% interest subsidy brings the overall borrowing…
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