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Select Board approves $800,000 DWSRF loan application for Lower Woodstock water project
Summary
The Woodstock Select Board voted to accept and sign an $800,000 Drinking Water State Revolving Fund loan application for the Lower Woodstock water project, authorize use of roughly $500,000 from unassigned/capital funds, and grant Scott Rice signing authority for future documents.
The Woodstock Select Board voted to accept and sign a Drinking Water State Revolving Fund (DWSRF) loan application for $800,000 to finance the Lower Woodstock water project and affirmed the use of roughly $500,000 from capital/unassigned fund balance to reduce the loan burden on water users.
Selectboard discussion described the financing package as an $800,000 DWSRF loan combined with $500,000 from the town’s unassigned capital funds and reserves; presenters said the arrangement is intended so the project will not increase monthly water rates for current users. The board reviewed the loan documents, noted a misspelling of Scott Rice’s name on the paperwork (to be corrected), and agreed all three board members must sign the current application in the office.
Chair (speaker 3) and the board also authorized that Scott Rice be delegated authority to sign future documents for the program on the board’s behalf so that ongoing administrative steps can proceed when he is available. The motion to accept and sign the DWSRF application was made, seconded and approved.
Next steps: the board will complete in‑office signatures after correction of the paperwork and proceed with subsequent required documents under the loan program.
