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Council approves Clean Water SRF loan agreement to finance wastewater facilities plan
Summary
Council approved Resolution 26-11 to accept a Clean Water State Revolving Fund agreement to finance a wastewater facilities plan; staff described the financing as a forgivable loan covering up to $100,000 with local budgeted match for collection-system work.
The council approved Resolution 26-11 authorizing a Clean Water State Revolving Fund (SRF) loan agreement to finance a wastewater facilities plan. Staff described the action as financing work on the city’s wastewater system, including a facilities plan and associated collection-system work. During discussion staff said the SRF arrangement includes forgivable components and noted a figure of up to $100,000 referenced in the meeting.
Council moved and seconded the resolution; the motion passed on a voice vote. Members said the loan agreement would help the city plan and finance upcoming wastewater projects and that staff will proceed with the SRF paperwork under state program rules.
The council did not identify immediate additional local budget impacts beyond the planned match; staff said they had budgeted the remaining local share (described in the record as the budgeted portion for collection-system work). The council directed staff to move forward with the loan agreement and to keep the council informed of final financing terms and schedules.
