Commissioners clear financing, contract modifications to advance 1 Water South program

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.