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Edmond approves SRF loan application and $8.8 million bid for 33rd Street waterline project
Summary
The Edmond Public Works Authority and City Council approved applying for a drinking-water SRF loan not to exceed $10 million and accepted a construction bid of $8,797,925 for the 33rd Street waterline phase that will upsize supply lines to improve pressure on the city’s South side.
The Edmond Public Works Authority and City Council voted to pursue a drinking-water State Revolving Fund (SRF) loan not to exceed $10 million to finance improvements to the city’s water system and approved awarding the Phase 1 construction contract for the 33rd Street waterline.
Chris Knifing, the city’s director of water resources, told the authority the project will increase the main from 12 inches to 24 inches on the south side of town to improve pressure and support sidewalks. He said the city originally estimated a larger price but the phase under consideration landed “just under $9,500,000,” and the agenda request limits the SRF loan authorization to $10 million. Knifing said the loan closing is expected in December and that SRF funds are subsidized state loans included in the city’s current rate plan.
The council approved a supplemental appropriation and financing resolution to support the project and accepted a low bid of $8,797,925 for Phase 1 of the 33rd Street waterline. Councilors moved and seconded the items and votes were recorded as approved; the materials in the meeting packet identified the loan documents and related covenants required by the Oklahoma Water Resources Board.
Officials said the project is part of a multi-year plan that dates to 2019 and is intended to resolve longstanding pressure issues for residents on the South side of Edmond. Staff emphasized the work is part of the city’s capital program and will be secured by a promissory note and associated loan agreements as required by SRF participation.
Next steps: the authority will move forward with executing loan documents and finalizing construction contracting so the project can proceed when financing closes, with staff estimating construction kickoff in the months after closing.
