Committee approves two facility projects and a loan increase for Springfield wastewater plant

The committee approved two facility pool projects and a loan increase for a Springfield wastewater project during its meeting.

SCOPE AND ACTION: Cardwell presented two pool-funded facility projects: a Libraries and Archives Building roof and skylight replacement for $1,715,120 (facilities roof pool) and exterior renovations to multiple buildings, including Health and Family Services and the Kentucky History Center, for $2,105,400 (facilities maintenance pool). The committee accepted the presentation and did not ask for changes.

WASTEWATER LOAN INCREASE: Sandy Williams, executive director of the Kentucky Infrastructure Authority, reported a $262,300 increase to a previously approved loan for the Springfield wastewater sequencing batch reactor project. The original loan, slightly over $2,600,000, was approved by the KIA board on 03/04/2024 and the increase brings the total to just over $2,880,000. Williams said the increase resulted from bids coming in higher than estimated and that no additional work will be performed; the original terms remain in effect. "This 30 year loan has an interest rate of 0.5%," Williams said.

PROCEDURE AND OUTCOME: Committee members asked procedural and timing questions; after rolling the six Office of Financial Management items together the committee approved the one loan increase and five grants in a single roll call vote.

NEXT STEPS: Williams and committee staff noted the grants and loan increase were approved as presented. The committee did not assign additional conditions on the record.