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Mayor says sewer-plant upgrade is on schedule but needs supplemental financing
Summary
Mayor reported the sewer-treatment upgrade is about 13.3% complete under a 720-day contract, with roughly $2 million invoiced to date and a monthly burn of about $625,000; staff will pursue supplemental SRF financing (discussing $3–$5 million scenarios) to continue work through the fiscal year.
The mayor updated the council on progress at the city's sewer-treatment plant and outlined immediate financing needs. "We're incurring about $625,000 per month," the mayor said, and added that the contractor is about 13.3% complete on a project scheduled for 720 calendar days.
Council received a status report that roughly $2 million in invoices has been submitted and that ARPA funds have covered early costs. The mayor said the city expects to draw on a $2.775 million State Revolving Fund (SRF) loan after ARPA funds are exhausted and that city staff is discussing supplemental SRF financing scenarios of $3 million to $5 million to ensure uninterrupted construction through the rest of the year.
The mayor asked ADM and financing partners to model multiple scenarios, including the possibility of a full award so the city could understand resulting debt service costs. Staff also said some federal funding sources tied to recent federal infrastructure legislation may not be available until a later fiscal year, which could affect timing.
Next steps: staff will continue discussions with SRF lenders and ADM, return with formal financing scenarios and debt-service projections, and monitor project invoicing and draw schedules to keep the contractor on pace.
