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Tavares council updates SRF loan paperwork to secure $21.45 million resilience funding and approve construction amendments
Summary
The Tavares City Council on Feb. 18 approved updated state revolving fund resolutions to extend timelines and pursue a $21,450,000 project with full principal forgiveness for drinking-water resilience, and approved an earlier amendment for the Lake Hermosa booster pump expansion.
The Tavares City Council voted Feb. 18 to approve multiple state revolving fund (SRF) actions intended to keep two water-system projects on track and to pursue a $21,450,000 resilience grant/loan package with principal forgiveness.
City staff told the council the measures respond to changes in project schedules and funding program language from the Florida Department of Environmental Protection (FDEP). The council unanimously approved an amendment to the SRF loan for the Lake Hermosa booster pump and water treatment plant expansion, and separately approved an updated resolution to apply for SAHMW funding that staff said lists $21,450,000 in estimated project costs and $21,450,000 in principal forgiveness.
Staff said the Lake Hermosa project previously received SRF awards for design and earlier construction phases and required Amendment 2 to extend contract timelines and adjust loan terms after higher-than-expected construction costs. “We’ve been noticed by FDEP that we need to extend the timeline due to the project timeline in the field,” staff said when asking the council to authorize the amendment.
On the SAHMW loan application, staff explained the state added wildfire and hurricane funding language and requested an updated resolution reflecting 100% principal forgiveness language. Staff estimated the planning, design and construction costs at $21,450,000 and told the council the FDEP listing includes principal forgiveness. “The project cost for planning, design, construction is estimated at $21,450,000,” staff said during the presentation. The council approved the updated resolution 5-0.
Why it matters: The resolutions are intended to secure state funding and timeline changes that officials say reduce local taxpayer exposure while allowing the city to proceed with major upgrades to drinking-water reliability and resilience.
What’s next: Staff said the amendments and updated resolutions will be filed with FDEP and that future council actions may follow as design, bidding and construction plans firm up.
