COUNCIL AGENDA ITEM
SUBJECT:
title
Wastewater Treatment Plant Expansion
body
DEPARTMENT:
Public Works
SUMMARY:
The rapid projected growth of our community has created an anticipated need to expand the existing wastewater treatment plant to provide additional utility services and wastewater treatment capacity. Given the substantial capital investment required for infrastructure projects of this scale, securing favorable funding sources is critical to the project's feasibility and the satisfaction of the community's long-term infrastructure needs.
City staff have identified a significant funding opportunity through the State Revolving Fund (SRF) program. Specifically, the Supplemental Appropriation for Hurricanes Helene and Milton and Hawaiian Wildfires State Revolving Fund (SA-HMW) offers exceptional financing terms for eligible communities impacted by Hurricanes Helene and Milton.
This funding opportunity comprehensively covers all project phases (planning, design, and construction). The finance terms include 50% Principal Forgiveness (effectively reducing total project cost by half) and a 0% interest rate on the remaining balance. These terms represent substantial savings compared to traditional municipal financing options.
Given the favorable terms and alignment with our infrastructure needs, staff recommends proceeding with the application process for this funding opportunity to help offset the major costs associated with the wastewater treatment plant expansion.
BUDGETED ITEM: ☐ Yes ☒ No ☐ Not Applicable
BUDGET AMENDMENT REQUIRED: ☒ Yes ☐ No ☐ Not Applicable
RECOMMENDED ACTION:
Staff is requesting approval to apply for this program to secure funding for our much needed wastewater treatment plant expansion.