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Council establishes debt‑service fund for 8th Street waterline project tied to hotel and brewery
Summary
Council approved creation of Waterline Debt Service Fund #263 to collect payments from Bollin Investors LLC and repay a Business Oregon loan for the 8th Street waterline project, which cost about $490,000 and serves the Bollin Hotel (fire suppression) and has a job‑nexus with Buoy Beer.
Councilors approved a resolution to establish a new Waterline Debt Service Fund (number 263) to manage loan repayments for a recently completed 8th Street waterline project.
City staff explained the project — funded in part by a Business Oregon economic development grant and constructed to serve the Bollin Hotel’s fire suppression needs — totaled about $490,000. Repayments will be received from Bollin Investors LLC (described in staff remarks as a partnership between the Bollin Hotel and Buoy Beer) and those receipts will be used to pay the state loan.
Councilor Davis moved the resolution; it passed by roll call with councilors voting aye. Staff noted establishing the separate fund creates a clear accounting path for tracking receipts and payments tied to the project.
