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Clarks Hill wastewater project receives USDA offer totaling about $10.1 million; town to pursue SRF gap funding
Summary
Commonwealth Engineers told commissioners the Clarks Hill wastewater project—estimated at a little over $11 million—received a USDA offer totaling roughly $10.1 million (about $8.1 million in grant funds and $2 million in a loan at 2.875% for 40 years). The town will pursue a ~$1 million SRF gap and aims to go to bid this fall pending permits.
An engineering representative for the town of Clarks Hill updated Tippecanoe County commissioners on the status of the town’s wastewater project and recent financing offers.
Robert Bellucci of Commonwealth Engineers said the project’s estimated cost is a little over $11,000,000. He said the town received a written offer from the U.S. Department of Agriculture that he characterized as totaling about $10.1 million—composed of roughly $8.1 million in grant funding and a $2.0 million loan component—and noted the loan portion currently carries an interest rate of 2.875% on a 40‑year note. Bellucci said that, because the town’s application also sits in consideration for the Indiana Finance Authority state revolving loan fund (SRF), there is a strategic financing gap of about $1,000,000 the town will try to fill.
"The offer from USDA was somewhat strategically written based on rate impacts, but long story short, that offer totals about 10.1, dollars 8,100,000 grant...and a $2,000,000 loan component," Bellucci said.
Bellucci said design documents are about 90% complete, permit applications have been submitted to the Indiana Department of Environmental Management and the team expects to receive permits in early August. Once permits are in hand, the town intends to bundle documents and seek USDA authorization to go to bid, with an expectation of going to bid this fall. He projected a user rate in the low‑to‑mid $80s for a 4,000‑gallon user, noting the figure is high for a community of this size but reflects the scale of the investment.
Bellucci said if SRF can commit to closing the identified gap, that commitment will enable the town to move quickly toward bidding and construction; he described the current status as "in a good spot" and emphasized contingency planning in bid alternates to keep the project within budget.
