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Kindred hears preliminary SRF approvals; council approves engineering invoices tied to water and paving projects
Summary
City engineers reported preliminary State Revolving Fund (SRF) approval for Meadow Trails Phase 1 and Elm Street water replacement with 2% loans over 30 years; council approved several Moore Engineering invoices and discussed bond terms for non-SRF costs.
Kindred city engineers told the council on April 1, 2026, that State Revolving Fund (SRF) funding applications for Meadow Trails Phase 1 and the Elm Street water replacement were preliminarily approved and would proceed to final review by the Industrial Commission. The SRF terms discussed were 2% loans amortized over 30 years for SRF-eligible costs.
Engineers noted that remaining non-SRF eligible costs would require a municipal bond for either 20 or 25 years with estimated interest of about 3.25%–5%, and the first principal payments on some financing may be due in 2027, which would necessitate completing the special-assessment process this summer before construction.
Council approved Moore Engineering invoices tied to these projects: ME Inv 8386 for $4,683.10, ME Inv 8389 for $1,971.60, and ME Inv 8391 for $576.00. The council also noted SRF applications were submitted for Newport Ridge and 7th Avenue paving (Districts No. 2024-1 and 2024-2) and that SRF submission timings will progress through state committees for review and approval.
The minutes record the preliminary financing terms, invoice approvals, and the council’s recommendation (CM Peraza) favoring a 25-year bond for remaining non-SRF costs.
