Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Water Infrastructure topic
No spam. Unsubscribe anytime.
Board approves water-project funding option with 30% forgiveness component
Summary
The water committee reported on a 30% design meeting with JEO and the board approved funding option two: a loan with 30% forgiveness. Trustees voted 5-0 to select the loan-plus-forgiveness option for the water project.
The Village of Elmwood Water Committee met with JEO on May 21 for a 30% design review of a water infrastructure project and presented three funding options: (1) a 100% loan; (2) a loan with 30% forgiveness; and (3) funding that would support a regional connection. After discussion, the Board of Trustees voted to approve option two, the loan plus 30% forgiveness.
Trustee Heather Scott moved to approve the loan-plus-30%-forgiveness option and Trustee Patric Euse seconded; the roll-call vote was 5-0 in favor. The minutes do not specify the loan amount or the source of forgiveness; those details were described as part of funding options presented by JEO during the Water Committee meeting but are recorded as "not specified" in the board minutes. The board directed implementation through the Water Committee and staff follow-up.
