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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 roughly $300,000–$350,000. The county has pursued outside funding and will use grant reimbursement where available; staff told the board a federal grant and prior local funds reduce the local need but a modest county loan is required to complete the work.
The approved Option 2 adds up to $350,000 to the loan balance and restarts a 30‑year repayment clock; in a subsequent motion the board included an interest rate of 0.5% on the loan. Supervisor Arnie Levine, speaking for Lake Carroll residents during public comment, framed the request: ‘‘Option 2 ... adds $350,000 to the Lake Carroll Service District Fund and extends the payback period to 30 years.’’
Key fiscal detail: Staff noted the county has secured a substantial federal grant in related infrastructure work and that the Lake Carroll project must complete construction and invoice on a schedule required by the reimbursement program; the current bid prices will expire in December if the board takes no action. Staff emphasized that up to the approved amount will be used only as needed and unspent funds will not be drawn.
Why it matters: The loan secures funding to complete dam repairs that residents and county staff described as necessary for safety and to protect the neighborhood’s tax base; the extended term reduces annual assessments for the small number of service-district properties but spreads repayment across decades.
What’s next: Staff said it will notify the board if contingency funds are drawn and return final contract documents and project accounting; the board also directed staff to communicate any draw to all board members.
Quotation: ‘‘We are asking you, the county, to do your part to remediate the dam,’’ said Arnold Levine, a Lake Carroll homeowner, during public comment.
Ending: The motion to adopt R25‑270 Option 2 with 0.5% interest passed unanimously; staff will proceed to finalize contract and construction steps while keeping the board informed.
