Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Water Infrastructure topic
No spam. Unsubscribe anytime.
Waynesville approves SRF loan acceptance to join regional water interconnect project
Summary
The Town of Waynesville council adopted a resolution accepting a state SRF loan offer and principal‑forgiveness terms to participate in a multi-jurisdictional emergency water interconnect with Canton and neighboring towns; staff said the combined budget is approaching $20 million with county and other requests.
The Town of Waynesville council voted to accept a State Revolving Fund (SRF) loan/grant offer enabling the town to join a regional emergency water interconnect with Canton and neighboring municipalities.
Rob (staff) told the council the town's requested SRF loan was $284,960 and that the state has approved roughly $1,641,498 in related allocations; staff said the three towns are also pursuing another $750,000 and have requested $2 million from the county, bringing the total project budget close to $20 million. Rob said the SRF loans are being offered with principal forgiveness in this cycle and that the towns would pay only a loan‑administration fee (about 2% of loan proceeds) if the project proceeds.
Council asked how the loan would be handled if the interconnect agreement were not finalized; staff said the towns would be responsible for any funds advanced and that the interconnect agreement among the three governments must be adopted before money would be spent. Rob also said that an engineering report deadline had been moved to early summer after notifying the state that the original date was not realistic.
The council adopted the resolution to accept the SRF offer and authorized staff to continue negotiating the interconnect agreement with the other jurisdictions.
— Quotes are taken verbatim from the meeting transcript and attributed to staff who spoke on the record.
