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Fort Recovery council approves $421,830 payment for water tower, notes 0% design loan
Summary
The Village of Fort Recovery approved a $421,830.30 payment to Caldwell Tanks for water tower work and discussed a 0% loan of $295,050 to cover final design plans; staff said the project could yield up to $187,000 in annual operational savings but will proceed as paperwork is finalized.
The Village of Fort Recovery on Oct. 7 authorized a $421,830.30 payment to Caldwell Tanks Inc. as part of the town’s water tower project and discussed financing and expected savings tied to the work.
Randy Diller, a village staff member, told council the village “received notice of approval for a 0% loan for $295,050 for the cost of the final design plans.” Roberta Staugler, a village staff member, explained the village will advance funds from an OBM grant to the water tower fund until reimbursement is received from ODOD (the agency named in the minutes).
Diller said project estimates and reworked numbers indicate construction and operational changes could reduce annual costs, with potential savings “up to $187K per year.” Council approved payment to Caldwell Tanks for $421,830.30 to cover the current draw request for the tank work.
Officials said the final design prints should be ready by May next year and that the loan and payment structure will operate as a revolving flow until reimbursements are received. Council’s action on the payment followed routine motions to suspend rules and adopt the expenditure.
The council also received updates on lagoon maintenance and sludge management; staff said cooler nights should help algae removal. No further formal votes were recorded on the broader project at the meeting.
