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Franklin board authorizes $17.6M SRF design loan and $5.8M principal forgiveness for clean water facility design
Summary
The board unanimously authorized a $17,609,000 State Revolving Fund design loan (2.35% interest) with $5,800,000 in principal forgiveness to fund pre-design and design work for a new clean water facility; staff presented a preliminary median construction estimate of $347 million and a timeline targeting discharge to the river by 2032.
Franklin — The Board of Mayor and Aldermen unanimously approved a resolution authorizing staff to pursue a $17,609,000 State Revolving Fund (SRF) loan to fund design work for a proposed clean water facility, with $5,800,000 in principal forgiveness and a 2.35% design‑loan interest rate.
Staff described the project as a multi‑phase program to add wastewater capacity ahead of forecasted demand and to meet stricter effluent limits upstream of the city’s water intake. In predesign, the presentation showed a broad construction cost range with a median estimate of $347,000,786; staff emphasized that the number is preliminary and will be refined during design and delivery method selection.
The loan for design is a five‑year SRF draw with cost reimbursement; staff explained that principal forgiveness reduces the repayable portion to about $11 million for the five‑year term. Presentation slides described potential treatment technologies (activated sludge with nutrient removal, membrane filtration, ozonation, biofiltration, granular activated carbon and ultraviolet advanced oxidation) and outlined a schedule that aims for discharge to the Harpeth River by 2032 and reservoir transfer testing in 2033.
Director-level staff said design work would proceed in 2026 with off‑site construction work possible in 2027; larger intersection improvements tied to development and state coordination could occur later in the decade. The board’s unanimous vote authorizes filing loan applications, executing required agreements and moving into design—next steps that will further refine costs and funding strategies, including possible rate adjustments and other funding sources.
What happens next: Staff will move forward with SRF application steps and refine design estimates. The city plans a follow‑up cost‑of‑service and fees study in 2027 to determine whether utility rates or impact fees require adjustment to support future phases.
