Commissioners clear financing, contract modifications to advance 1 Water South program
Summary
The board approved a revolving credit facility and three contract modifications to advance the 1 Water South wastewater conveyance and treatment program, authorizing short‑term borrowing and contract increases to move from design into construction.
Hillsborough County commissioners on Dec. 17 approved financing and contract actions to move the county's 1 Water South program toward construction.
Management and Budget Director Kevin Brickey outlined a recommended financing approach that relies initially on a short‑term revolving credit facility and defers a large‑scale bond sale until later, to match project expenditure timelines. The board approved a resolution authorizing issuance of subordinate utility revenue notes and execution of a revolving credit agreement with Bank of America (item B5).
Lisa Ray, director of Water Resources, asked the board to approve a third modification to the progressive design‑build agreement with Garney Companies to cover long‑lead materials and early work; that change increases the contract by $224,619,407.06 (item B6). The board also approved a sixth modification to an agreement with Corolla Engineering Inc. for additional professional services (item B7). Commissioners recorded motions and carried each item: B5 carried (6–0), B6 and B7 each carried unanimously.
Staff said the entire 1 Water program is expected to span several years at an approximate program cost of about $1.7 billion; short‑term borrowing would allow contract encumbrances this winter and bond financing at a later stage when expenditures align with bond timelines.
Commissioners asked about DBE/MDWBE participation and the project schedule; staff said participation goals are being met and that construction of major components — treatment plant, super lift station and pipelines — will occur over the coming years.
