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Lake Placid gets detailed grants briefing; council authorizes Seacoast loan for septic‑to‑sewer work
Summary
Town staff and consultants gave a multi‑grant update on the $40M septic‑to‑sewer program and the wastewater treatment plant; staff reported the plant is roughly 85–88% complete and outlined available drawdown, contingency and owner direct purchases. Council approved Resolution 2026‑O8 authorizing loan documents with Seacoast National Bank to fund remaining septic‑to‑sewer elements.
Town finance staff and engineering consultants presented a detailed account of multiple grants and the wastewater plant construction status, and council authorized a bank loan to ensure the septic‑to‑sewer program can proceed.
Rachel, the town finance lead, gave a multi‑grant overview of the $40,000,000 package (and related extensions) used for septic‑to‑sewer projects, lift stations and force‑main upsizing. She told the council that higher bids and inflation forced the town to remove some scopes and revise the grant agreement; the low bid for the wastewater treatment plant arrived near $34 million, which reduced the amount available to complete…
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