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Keville Utilities Board approves $1.7 million SRF loan application to advance wastewater projects
Summary
The Keville Utilities District board authorized the general manager to apply for $1,700,000 in Cleanwater State Revolving Fund financing to fund aggregate wastewater projects; the board approved the application with no opposition and asked staff to resolve outstanding match and engineering funding details.
The Keville Utilities District Board of Trustees voted to authorize the general manager to submit an application for $1,700,000 in Cleanwater State Revolving Fund financing to advance wastewater projects, the board decided at its June meeting.
Board members discussed whether principal forgiveness would be available; John, the district staff member presenting the item, said there is none for this loan and that the district already receives substantial grant support on related projects. A motion to authorize the general manager to apply to the municipal bond bank for the SRF financing “and to execute all documents necessary to complete the application process subject to final board approval of any loan closing documents and financing agreements” was moved, seconded and approved without recorded opposition.
John told the board the EPA is ready to administer a related grant for a CDS project and that the district is setting up match financing previously identified from the Clean Water SRF program. He said recent work rolling previously uncovered invoices into the project will produce a roughly 35% reimbursement on those invoices and that loan approval will permit the district to "move on and clean up all those aggregate wastewater projects."
Board members asked staff to clarify whether the district has enough non-SRF match to fund engineering outside of the SRF program. John said staff is still determining whether engineering can be covered with available match or whether a competitive qualification will be required; he committed to keeping the board informed as financing details are resolved. The authorization allows staff to complete the application process but subjects any loan closing documents to final board approval.
The board did not record a roll-call tally in the transcript; the motion was presented, seconded and passed by the members present. The next step is for staff to complete the SRF application and return with loan-closing documentation for final board approval.
