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City staff outline State Revolving Fund loan plan to finance stormwater repairs; estimated $8 per household/year impact
Summary
Finance and public works staff told council the city will submit a pre-application to Colorado's State Revolving Fund in January to target short-term stormwater repairs (about $3 million). Staff estimated a ballpark residential impact of roughly $8 per household per year and said larger projects could follow after a utility rate study.
Littleton — City staff briefed the City Council on Dec. 16 about plans to apply to Colorado’s State Revolving Fund (SRF) for low-interest loans to finance stormwater infrastructure repairs.
Finance Director Lori Mata described two SRF tracks: direct loans under $3 million (available year-round, historically favorable interest rates cited at about 3.225% for 20 years and 3.5% for 30 years) and leverage loans above $3 million (two application cycles per year). Mata said Littleton’s SRF cap is typically $18 million in active borrowing capacity and that smaller direct loans can be disbursed relatively quickly when funds are available.
"This is an informational step — we are not asking council to approve debt tonight," Mata told council. She said the city plans to submit a January pre-application for short-term work and return later for final approval when terms are known.
Public Works Director Brent Sauter said the immediate focus is on failing corrugated metal pipe replacements and other short-term projects and that the city would target an application near the $3 million direct-loan threshold first, with larger projects (Rangew Gulch, Ridgeview Pond) considered later.
When asked about household cost impacts, Mata gave a ballpark estimate of about $8 per household per year, noting the first payment would likely be deferred until after construction because SRF loans are drawdown loans and do not incur interest during construction phases.
Council members emphasized the city is addressing decades of deferred maintenance and warned residents to expect gradual utility-rate increases tied to catching up on capital needs. Staff said the stormwater capital improvement plan will be integrated into an overall utility rate study and returned to council in spring 2026.
Next steps: staff will finalize project details and costs, submit the formal loan application (targeting the January cycle for direct loans), and return to council for final loan approval and any required ordinance or bond approval.
