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Versailles administrator reports AMP refund, lower financing rate for substation, and multiple street and utility projects under way
Summary
Village Administrator reported a $32,320.23 reimbursement from AMP's Efficiency Smart program to the Electric Fund, a finalized 20-year BAN at 2.85% for substation financing, and that W. Wood Street and N. Steffin Street reconstruction work has begun with resident notices in place.
Village Administrator Francis told the council June 22 that the village will receive a $32,320.23 reimbursement from AMP's Efficiency Smart Program; the funds will be returned to the village's Electric Fund. Francis said AMP's program review identified accumulated unspent funds that are being returned to participants on a proportional basis.
Administration also reported that permanent financing for the substation project was finalized as a 20-year Bond Anticipation Note at a 2.85% coupon. That rate is lower than the 4.5% rate Sawvel & Associates had budgeted, a reduction credited to the municipality's favorable finances and coupon credits obtained during the financing process.
Utility and public-works activity noted by the administrator includes teardown of Poultry Days electric components, installation of a new 400 AMP service at 12 S. Center St., planned three-phase service work at 39 S. Center St. (to serve Made Apparel and Rooster Joe's), and installation of 39 additional 2S AMI residential electric meters in the village's southern area.
Construction activity reported includes site layout and driveway widening at the McGreevey Rd. Substation (Vaughn Industries/Cobalt Civil), start of the W. Wood Street Area Street Reconstruction Project with Brenneman Excavating (water main work beginning near S. West St.), and the N. Steffin St. Reconstruction Project with Tom's Construction beginning June 22. Notices to impacted properties include temporary trash/recycle location changes and U.S. Postal Service mail holds starting June 29 for the W. Wood project area.
Francis said work on the wastewater-plant expansion has been paused because Jacobs Engineering's construction cost estimates were higher than expected; the village will first focus on identifying and eliminating inflow and infiltration in the sanitary-sewer collection system to preserve plant capacity. The administrator also reported the vac truck is out of service pending replacement of a main water pump, with the replacement pump estimated at $12,000.
The council was told the village is evaluating an AI-based pole inspection program (Noteworthy) and will return with pricing. An exit meeting is planned with state officials following completion of a State IT audit. MidNet Media will be contacting the village to review the website revamp.
What's next: Jacobs Engineering and village staff will meet July 9 to discuss next steps for the water-treatment-plant preliminary engineering study; administration will present pricing for the pole inspection program at a future meeting.
