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Council authorizes WERDA loan application, discusses $5M grants and 25% local match
Summary
Biloxi council unanimously authorized submission for ranking to the water pollution control revolving fund for Walmart Acres improvements; staff said one $5M grant is secured, another is sought and that local match is approximately 25% (about $1.6M per $5M grant).
The Biloxi City Council unanimously approved a resolution authorizing the city to seek ranking and funding from the water pollution control revolving fund (WERDA) for wastewater/drainage improvements in the Walmart Acres subdivision.
Staff explained the financing approach: the city currently has a $5,000,000 water grant and is pursuing another $5,000,000 to extend water and sewer work in the same footprint. For each $5,000,000 grant, the local match was described as 25 percent — roughly $1.6 million — and officials noted they will continue to refine cost estimates as phases advance. One staff member said the loan/resolution before council is an initial request and loan agreements would return to the council for later approval.
Council members asked whether bond proceeds would substitute for grant match; staff said bond funds would be in lieu of the loan/match if used. Questions about the precise project cost estimates drew replies that figures are "moving targets" in the current market and that consultants update estimates upon request. The resolution passed unanimously (7-0).
Council directed staff to return with loan agreements and any required ratification once terms are known.
