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Council conditionally agrees to sponsor MPCA Clean Water Partnership loan for Liberty Ponds, requires protections
Summary
Council approved conditional participation in an MPCA Clean Water Partnership loan to help finance a roughly $3 million septic replacement at Liberty Ponds, subject to design, competitive bids, gap financing confirmation, individual assessment waivers and escrow to protect city taxpayers.
The Wyoming City Council voted to conditionally participate as sponsor for a Minnesota Pollution Control Agency (MPCA) Clean Water Partnership (CWP) loan to finance a septic replacement project at Liberty Ponds, but required strict conditions to protect the city and its taxpayers.
Staff said the total project is currently estimated at approximately $3 million; the CWP program could provide up to $1.25 million, leaving an estimated $1.75 million gap for the homeowner association (HOA) to secure. Mr. McFarland told…
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