HomeMy WebLinkAbout05/05/2021 5FAGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
SUBJECT: Amendment to Clean Water Study Session Date:
State Revolving Fund Loan Agreement with COUNCIL MEETING Date:
the Washington State Department of Department:
Ecology for the Oyster Bay Beach Sewer Presenter:
Upgrades (OB-2 to OB-1) Project Phone:
April 28, 2021
May 5, 2021
Engineering
Bill Davis
(360) 473-2323
SUMMARY: The City has submitted an amendment to the Department of Ecology to increase the
Clean Water State Revolving Fund (CWSRF) loan amount for the project Oyster Bay Beach Sewer
Upgrades. The project costs have increased to $7,700,000. These increased costs are a result of
added scope and current market conditions. The overall project budget needs to be increased to
$7,700,000 accordingly. Projects costs eligible for reimbursement by the Ecology loan are estimated
at $7,000,419. The original executed loan agreement was $3.8 million with an additional $2.4 million
commitment, included in the 2021 budget, from the Department of Ecology. The loan amendment
will increase the original loan from $3,800,000 to $7,000,419. The requested actions before City
Council are approval of the amendment to the CWSRF Loan and approval of an increase of the
overall project budget to $7,700,000.
ATTACHMENTS: 1. Fiscal Summary 2. Draft Amendment to the CWSRF Loan Agreement WQC-
2018-13remPW-00117
FISCAL IMPACTS (Include Budgeted Amount):
This project is included in the wastewater and stormwater capital budgets but requires additional
revenue in the form of this loan amendment and reallocated funds in the wastewater CIP to cover the
increased project costs. The overall project cost has increased to $7,700,000. See the attached
summary for the revenue details.
STUDY SESSION AGENDA: � Limited Presentation ❑Full Presentation
STUDY SESSION ACTION: ❑ Consent Agenda N General Business ❑ Public Hearing
RECOMMENDED MOTION:
Move to approve the amendment to the CWSRF Loan Agreement with the Washington State
Department of Ecology for Oyster Bay Beach Sewer Upgrades and the overall project budget
increase to $7.7 million, and authorize the Mayor to finalize and execute the amendment with
substantially the same terms and conditions as presented.
COUNCIL ACTION: ,Approve ❑Deny ❑Table ❑Continue ❑ No Action
Form Updated 01/02/2018