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Port Edwards authorizes DNR/CDBG and low‑rate water loan applications for 2nd Street project
Summary
The board approved a resolution authorizing applications for DNR safe/clean water grants, CDBG funds, and low‑rate clean/dirty water loans to support a proposed 2nd Street utility and paving project; discussion covered interim financing, grant amounts, and that $400,000 state funds have been received to date.
The Port Edwards Village Board authorized staff to apply for state and federal funding for a proposed 2nd Street reconstruction that would include water and wastewater work and road resurfacing.
Staff described the resolution as an authorization to seek multiple funding streams — DNR safe and clean water grants, a Community Development Block Grant (CDBG) application, and clean/dirty water loan programs that typically carry low interest rates (staff cited roughly 2.5–3% as a typical rate). The village has already received $400,000 in state funds toward the project, and staff said the principal CDBG application being prepared would seek $968,000. Staff said projects requiring grants are typically financed on an interim basis with short bank borrowing and then reimbursed after grant awards.
Trustees pressed staff on where loan or interim payments would come from; staff said the utilities portion would be covered by the utilities' budgets and that final decisions about the project's funding breakdown would return to the board when grant awards and a full project packet are available. Staff noted the full project estimate and funding gap would be presented when design and grant decisions are final.
The board approved the resolution by voice vote. Staff will prepare the full grant application materials and, if grants are awarded, return with a complete financial plan for board consideration.
