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Board authorizes county grants pursuit and $750,000 zero‑interest loan for design
Summary
The board authorized staff to pursue county grant work packages totaling up to $250,000 and approved authorization for the district president to sign a 0% interest, five‑year $750,000 loan to support design work and preconstruction planning.
The board gave direction to pursue two county financing options: reimbursable grant work packages of up to $250,000 and a single‑disbursement, 0% interest, five‑year county loan for $750,000 with payments beginning in year two. General manager explained that the grants would reimburse discrete work packages and the loan would bridge near‑term design funding until construction financing is available.
A motion authorized the district president to sign the loan and authorized the general manager to identify and submit grant work packages. The roll‑call vote recorded unanimous approval. Staff said county counsel and county staff were involved in structuring the options and that terms would be brought back if they changed. "We could submit for grants up to $250,000 and a single check for a 0% interest five‑year loan," staff said during the presentation.
