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Council accepts nearly $9.9 million in state water-resiliency funds for Helene recovery
Summary
Council accepted a State Revolving Fund package totaling about $9.89 million for drinking-water resiliency after Hurricane Helene; the award includes forgivable portions and a 0% interest loan component and will be phased with potential hazard-mitigation grants to reduce borrowing.
Staff told the council the town had been awarded two rounds of drinking-water resiliency funds tied to Hurricane Helene recovery totaling roughly $9,886,554. "You were awarded a $4,999,632 loan from the state that does not have to be paid back," staff stated, and then described a second award that included a forgivable portion ($1,579,945) and a $3,420,587 0% interest loan for 20 years.
Councilors authorized staff to execute the acceptance documents and discussed phasing projects and potential overlapping hazard-mitigation grant applications that could reduce loan uptake. Staff said the town need not decide the full loan acceptance immediately and that timing for decisions could extend into 2028 or 2029 as projects are phased and grant outcomes are known.
