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Warrenton authorizes $1 million CWSRF loan for wastewater treatment design, seeks additional funding
Summary
City accepted a Clean Water State Revolving Fund loan offer for design of a new wastewater treatment facility: $1,000,000 at 1.92% over 30 years, with possible later amendment to $3.9 million for construction and 50% principal forgiveness noted.
The City Commission voted to adopt Resolution 2736 authorizing the city to accept a Clean Water State Revolving Fund (CWSRF) loan through Business Oregon to design a new wastewater treatment facility.
City manager told the commission the loan term would be 30 years at an interest rate of 1.92% and that the current request is for $1,000,000 to be used for design work. Staff said the state may later amend the loan to increase it up to $3.9 million to cover construction after required construction-related requirements are met. The manager noted a debt reduction and principal forgiveness amount of 50% — roughly $500,000 under the current $1 million request.
Commissioners asked questions about next steps and funding alternatives; staff said they will pursue grants and other funding before drawing further loan amounts. The commission moved, seconded and adopted Resolution 2736 authorizing the CWSRF loan.
