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Minnetrista council weighs bonding, PFA and federal grants for water treatment plant
Summary
Council received an update on options to finance a proposed water treatment plant, weighing a higher-cost bond against pursuing PFA (state) assistance and potential congressional directed spending; staff will return with refined design, cost scenarios and rate impacts ahead of a December/January decision.
Mayor Lisa Whelan and city staff discussed financing options and timelines for a proposed Minnetrista water treatment plant at the May 20 work session.
Jasper Krugel, a city staff presenter, told the council the state legislature adjourned without passing a bonding bill and that the city’s project made a short list for congressionally directed spending. “I think Dean Phillips is recommending $3,000,000 for us,” Krugel said, adding that the city had requested $5,000,000. He contrasted two financing paths: PFA loans (assumed at about 2.1 percent interest in the staff exercise) and a municipal bond at roughly 3.75 percent.
Krugel said…
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