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Bradenton seeks $10M bridge line, adopts $159.6M wastewater plan and approves targeted water-main work
Summary
Council authorized staff to solicit a $10 million tax-exempt revolving line of credit for utility bridge financing, adopted a five-year wastewater utility plan calling for about $159.6 million in projects through 2030, and approved a Kingston Estate water-main replacement estimated at $1.5 million.
Bradenton— The City Council on March 25 authorized staff to solicit a tax-exempt revolving line of credit of up to $10 million to provide short-term bridge financing for utility capital projects, adopted a five-year wastewater utility fiscal plan totaling approximately $159.6 million through 2030, and approved a roughly $1.5 million water-main replacement project in the Kingston Estate neighborhood.
Administration and finance staff described the line of credit as a market solicitation only — not an immediate borrowing — intended to give the city agility to pay contractors and pre-purchase materials while awaiting reimbursements from federal, state or other grant sources. "This is just to move forward ... it's approving us to go to the market to try to and solicit the ability to get an offering that would give us a line of credit for $10 million," City Administrator Rob Perry said. Council members and staff discussed drafting a formal debt policy to govern future use and the need to segregate accounting for any draws so reimbursements return to the proper funds.
The council adopted the five-year wastewater plan prepared by Woodard & Curran, which the administration said identifies roughly $159.6 million in wastewater needs through 2030 focused on prioritized repair, replacement and upgrades (the plan excludes drinking water and stormwater). Separately, staff summarized a Kingston Estate project to replace approximately 3,500 linear feet of aging 2-inch aluminum pipe with 8-inch pipe; the project was presented as critical for adequate fire protection and estimated at about $1.5 million with an estimated 180-day notice-to-proceed and 180-day completion timeline after award.
Council approved motions to solicit the line of credit, adopt the wastewater plan and authorize the Kingston Estate improvements; votes carried 5-0. Staff said financing costs for short-term draws may be eligible for later grant reimbursement depending on grant rules, and emphasized internal controls and a future debt-policy recommendation to the council.
(LOC solicitation approved; wastewater plan adopted; Kingston project approved; all actions 5-0)
