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Board approves loan addition and extended payback for Lake Carroll dam repairs
Summary
The Stafford Board approved resolution R25-270 (Option 2) to budget/appropriate up to $350,000 in capital-project-reserve funds as a loan to the Lake Carroll Service District for Kennedy Dam renovations and extended the repayment term to 30 years with a 0.5% interest rate; the motion passed unanimously.
The Stafford County Board of Supervisors on Oct. 8 authorized additional county support for repairs to the Lake Carroll (Kennedy) dam, approving resolution R25‑270 Option 2 to budget and appropriate capital-project reserve funds as a loan to the Lake Carroll Service District.
Background and action: Capital Projects staff summarized the project history: the Lake Carroll service district was formed in 2017 with an initial budget of about $515,000; design and permitting work, contractor turnover and later bid cycles pushed costs higher. Staff reported bids opened in September at about $1,500,000 and projected a remaining local deficit of…
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