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City to apply for TxDOT loan to relocate wastewater utilities along FM 1641
Summary
Forney staff presented and the council approved a resolution authorizing application to the Texas Department of Transportation State Infrastructure Bank to front funds for relocating wastewater utilities along FM 1641, with potential reimbursement up to 95% and an estimated 3–4 month construction window.
City staff presented a resolution authorizing the city manager to apply for a State Infrastructure Bank loan with the Texas Department of Transportation to relocate existing wastewater utilities along FM 1641. Mr. Zook told the council the loan could front project funds with later reimbursement, potentially up to 95% of project value, and that interest would apply; he said reimbursement timing can take months to years depending on TxDOT processes.
Councilmembers asked about loan term, interest rate and the possibility of early payoff. Mr. Zook estimated the construction portion of the relocation would take roughly three to four months and suggested loan lengths might be about 10 years, with interest possibly in the 3–4% range based on preliminary information. After discussion on amortization and repayment strategy, the council voted to approve the resolution to apply for the loan.
