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DATE SUBMITTED: January 3, 2007
BILL # 01-0j D
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
....m............................................a.......m......................D.......
SUBJECT: Resolution # .30d..O
authorizing the City to receive a State
Revolving Fund Loan for the Bremerton
Combined Sewer WWTP Upgrade Project.
Committee Meeting Date: January 10, 2007
COUNCIL MEETING Date: January 17,2007
Department: PW&U, Engineering
Presenter: Mike Mecham
Phone: 473-5288
SUMMARY: The City applied for and received awards for a Washington State Department of
Ecology State Revolving Fund (SRF) low-interest loan to fund improvements included in the
Bremerton Combined Sewer WWTP Upgrade Project. A draft loan agreement has been prepared for
the Bremerton Combined Sewer WWTP Upgrade Project for design and construction activities
($1,000,000).
ATTACHMENTS: 1. Council Summary; 2. Resolution # 3o;}()
F][SCAL IMPACTS (Include Budgeted Amount): The project costs were included in the 2004 utility
rate study. However, since that time there have been modifications to both the project scope and
budget in order to provide for the necessary WWTP improvements. The budgeted amount for this
project identified in the adopted 2007 Budget is $4,000,000 and the total project budget is $5,240,000.
The utility rate study anticipated that funding would be provided through a combination of grants and
rate revenues, however, it is now expected to be funded entirely through a combination of grants and
low interest loans. The next update of the utility rate study will need to include the revised project
cost information and revised funding sources, however, informal analysis by engineering indicates
that the rate revenue requirements are adequate to assume this loan obligation commitment.
RECOMMENDED MOTION: Move to approve Resolution # .3.Q;lQ authorizing the City of
Bremerton to receive the Washington State Department of Ecology SRF Loan for the Bremerton
Combined Sewer WWTP U grade Project and authorize the Mayor to finalize and execute the loan
agreeement subject to City Attorney approval of final releveant terms and conditions.
I CONSENT AOEND#
APPROVALS:
DEP ARTMENT DIRECT
CITY ATTORNEY:
FIl'JANCE DIRECTOR:
MAYOR:
FISCAL/BUDGET:
OPERATIONS:
COUNCIL PRESIDENT:
COUNCIL ACTION: ~prove D Deny
ab/Agenda Bills 2007SRF Loan WWTP Upgrade Project
. D Table
D Continue
D No Action