The Town Council voted Jan. 12 to approve the form of several documents related to a potable waterline to serve the Lake Placid Camp & Conference Center and to authorize the mayor to sign them when final. Counsel and representatives for the Camp said the project is tied to an SRF (State Revolving Fund) application and principal forgiveness that would significantly lower net cost for the town.

Matt Taylor, representing the camp, said the organization has already invested about $750,000 and will pledge three parcels in Sebring and a $250,000 cash payment as collateral to support the application. "My clients and the deal that the town made with my clients...has qualified for the SRF and the Florida Department of Environmental Protection," Taylor said during the presentation.

Council members asked detailed questions about timing, who would pay potential overruns, how CEI (construction engineering and inspection) costs are handled, and whether hydrant locations or CEI would impose extra costs on the town. The camp representatives and the town attorney said the camp has agreed to cover cost overruns and the town would remain the applicant for the SRF funds; the camp said it expects a majority of the SRF amount to be forgiven under principal forgiveness rules.

After public comment and legal review, council approved a motion to approve the form of the proposed bulk water agreement, additional collateral note and mortgage, and related resolution, and to authorize the mayor to execute the documents. Staff and counsel said final binding obligations would come later in the SRF/grant acceptance stage and that council retains the right to reject terms before any money is disbursed.