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Board approves $2.25 million IFA financial-aid agreement to serve National Guard site and nearby improvements
Summary
The board approved a resolution and financial-aid agreement with the Indiana Finance Authority for a $2,250,000 grant to help fund water and sewer looping and other work that will also support a National Guard site; total bidded project $2,834,147.11, leaving a city balance of $584,147.11.
The La Porte Board of Public Works and Safety approved a resolution and a financial-aid agreement with the Indiana Finance Authority (IFA) to fund a bundled water and sewer project that the city said will serve both a National Guard site and surrounding neighborhoods.
Clerk Treasurer explained that the IFA is awarding $2,250,000 toward a project that bid at $2,834,147.11. "So our balance would be $584,147.11," the Clerk Treasurer said. The IFA requires the city to hold $1,000,000 in contingency funds; the board approved wiring $1,000,000 to the IFA so the authority can process pay requests and pay invoices directly.
Tim Warner, water superintendent, described the scope: looping water from Ziegler Road into 5th Street and Colfax, addressing fire-flow requirements, and including sewer work on Colfax where side sewers currently run under private structures. Warner said IFA will hold funds and disburse payments as pay requests are processed; he added that bid results were lower than the engineer's estimate and that the city may receive some money back at project end.
A board member asked whether the IFA pays invoices directly or reimburses the city; the clerk confirmed IFA will process and pay invoices once the city wires the contingency. The resolution, financial-aid agreement and related wiring permission were approved by voice votes.
The board did not record individual roll-call tallies in the transcript; the motion passed by voice vote.
