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City authorizes reimbursement intent for Well #4 water treatment plant; project may qualify for SDWLP principal forgiveness
Summary
The council adopted Resolution 30-26 to preserve the ability to reimburse Well #4 water treatment plant expenditures from future borrowing (authorization up to $5,000,000). City Administrator Matt Wolf said the preliminary project estimate is about $4,427,000 and that the project may qualify for up to 70% principal forgiveness through the Wisconsin SDWLP; additional federal funding was also discussed.
City Administrator Matt Wolf briefed the council on proposed repairs and improvements to the Well #4 water treatment plant. A preliminary design by CBS Squared estimated total project costs at approximately $4,427,000, including construction, engineering, legal, financing, and contingency. Wolf explained the project is expected to be financed through the Wisconsin Safe Drinking Water Loan Program (SDWLP) and that the council was being asked to adopt a reimbursement resolution so that eligible costs incurred before loan closing could be repaid from future borrowing.
Wolf told the council the city may qualify for up to 70% principal forgiveness through the SDWLP and that the city had requested Congressional discretionary spending support through Congressman Van Orden and Senator Baldwin. He noted the project had been included in the House Appropriations Subcommittee’s funding bill at $700,000 but cautioned any federal funding received would reduce SDWLP principal forgiveness. The proposed resolution authorizes reimbursement up to $5,000,000 to ensure compliance with federal tax rules and preserve financing flexibility. Ruona/Granquist motioned to approve Resolution 30-26 and the council approved it without objection.
Ending: The reimbursement resolution does not obligate the city to borrow the full authorized amount but preserves the ability to reimburse eligible project expenditures once loan proceeds are available; WI DNR will make final funding decisions later in the year.
