Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Water Infrastructure topic
No spam. Unsubscribe anytime.
Council backs Public Works Authority steps to finance $416 million water-plant phase after staff outlines $377 million bid
Summary
The council approved Edmond Public Works Authority actions to pursue Oklahoma Water Resources Board financing and related budget authority for the final phase of the Arcadia Lake water treatment plant. Staff reported a single construction bid of about $377 million and said the expansion will raise capacity to roughly 30 million gallons per day.
The Edmond City Council on June 22 approved actions by the Edmond Public Works Authority to apply for financing from the Oklahoma Water Resources Board and to move forward with consultant and contract authority for the final phase of the Arcadia Lake water treatment plant.
Director of Water Resources Chris Neifing said the agenda included four linked items to encumber funds, authorize professional services and approve the construction contract. He told council that construction bids produced a single bid of roughly $377,000,000 (including the owner's allowance) for the final phase, which will expand capacity from about 12 million gallons per day to approximately 30 million gallons per day. "This is the last large phase of the current water plant...It is our single largest investment in city infrastructure," Neifing said.
Council members and staff discussed financing options and noted the Oklahoma Water Resources Board loan provides favorable seven-year refund terms and allows the city to invest funds until used. One councilmember said the financing spreads cost over future users rather than placing the entire burden on current ratepayers. The council approved the Public Works Authority items and the city-side resolution (required under state law because the public trust cannot incur indebtedness without the beneficiary's consent) 4–0.
Staff said they expect to continue diligence with OWRB and consultants; the council directed staff to maintain transparency and revisit the rate impacts in the near term. The council also noted the need to separate capital-project accounting for clarity in future budget presentations.
