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Committee approves final financial assistance agreement to close DNR lead service line loan
Summary
Finance Committee approved the final financial assistance agreement numbers to close a Wisconsin DNR safe drinking water loan for the 2026 lead service line replacement project; staff said the DNR and bond counsel will prepare the agreement for council consideration.
The Finance Committee on June 21 approved the final numbers for a financial assistance agreement required to close a Wisconsin Department of Natural Resources (DNR) safe drinking water loan tied to the 2026 lead service line replacement project.
Staff said the numbers agreed with the DNR will be included in a formal financial assistance agreement prepared by the DNR and the city's bond counsel, and that the agreement will be forwarded for common council consideration. Alder Neil moved to approve; Alder Watson seconded and the motion carried by voice vote.
The action closes the financing step necessary to secure principal forgiveness and other loan terms negotiated with the DNR; staff will bring the prepared agreement to council for final approval.
