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Council weighs CIB loan or grant to fund box culverts tied to NRCS watershed project
Summary
Castle Valley is considering a Community Impact Board (CIB) loan or grant to pay the town’s match for box culverts required by an NRCS watershed-protection project; council members noted timing constraints (NRCS 220‑day completion window), reimbursement‑only grants, and the town’s available capital.
Council members on Dec. 18 discussed pursuing Community Impact Board (CIB) funding to cover the town’s share of box culverts tied to a Natural Resources Conservation Service (NRCS) watershed‑protection project on Castle Valley Drive. NRCS will cover armoring and some construction elements but will not procure or install the culverts themselves; the town must contribute the culvert purchase/installation match.
The council referenced an NRCS estimate of roughly $1.4 million for the broader project and said a 25% town match would be required if the full project were funded. Members said NRCS expects work to be completed within about 220 days once the project begins, and that many grants operate on a reimbursement basis, requiring the town to front costs and then request reimbursement.
Council members reviewed options including a CIB loan (noting past favorable rates near 2.5% for town loans) and conventional financing if necessary. The town has a special‑projects line of about $250,000 and roughly $600,000 in town funds; council members estimated that culvert purchase and installation could cost in the range of $400,000–$500,000. Members said timing is tight because the next CIB allocation cycle decisions occur in June after the application deadline at the end of January; engineering work can be started earlier, but frozen ground limits some construction this winter.
Council agreed to investigate whether to apply this round and whether a loan (which may disburse faster) is preferable to waiting for a grant. Members stressed they will try to leverage NRCS engineering and match in the most efficient way possible while protecting priorities such as chip sealing Castle Valley Drive in coming years.
No formal commitment to apply was recorded; council asked staff to gather additional information about CIB timelines and loan versus grant options and to return with recommendations.
