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Consultant: SRF award and possible CDBG grant leave $460,000 funding gap; rate impacts uncertain
Summary
Banner Associates said a $1,000,530 Clean Water SRF award reduces the Alcester project's need to about $2.48 million before additional grants; consultants warned the final CDBG award is uncertain and may affect water rates.
Consultants presented the city's financing picture: a Clean Water SRF award of $1,000,530 has been secured, the project's working total was presented as $4,000,010 (including a $20,000 CDBG administrative fee), and the remaining need before further grants is about $2,480,000.
"If you subtract the million 530 that's been awarded through the clean water program already... The remaining cost is 2,480,000," said Tanya Miller of Banner Associates. Miller and funding staff said they would apply for CDBG funding that can award up to $2,000,020 but cautioned the award amount is uncertain and could be substantially less.
City staff and consultants discussed options if the CDBG award is smaller than hoped: rescoping the project to remove an alley, focus only on Offstead Street, or reapply through a drinking-water funding round. A presenter noted the funding choices and rescoping decisions will determine any rate impacts. On rate impacts, Miller quoted illustrative figures from the discussion: "it would push the rate up to $6," while also saying current water rates are "about $58," but the transcript phrasing was imprecise about the final customer impact and staff said a more detailed rate analysis will follow.
