TO: Mayor and Commission AGENDA DATE: 6/3/2024
FROM: Interim City Manager AGENDA ITEM: 9 - A
SUBJECT:
Title
Request approval for State Revolving Fund - Amendment 3 to Loan Agreement WW641860 with the Florida Department of Environmental Protection, specific to the Alexander Avenue Reclaimed Water Augmentation Project (aka Lake Monroe Project Phase 4B) in the amount of $2,638,605- Phyllis Wallace, Interim Public Works Director (386) 878-8965.
Strategic Goal: Infrastructure
Body
LOCATION:
Not Applicable
COST:
$2,638,605; Loan Service Fee $51,737 equals 2% of the Loan Amount of $2,586,868
SOURCE OF FUNDS:
Deltona Water
ORIGINATING DEPARTMENT:
Public Works/Deltona Water
STAFF RECOMMENDATION PRESENTED BY:
That the Commission approve and authorize the execution of the Revolving Fund - Amendment 3 to Loan Agreement WW641860 with the Florida Department of Environmental Protection, specific to the Alexander Avenue Reclaimed Water Augmentation Project (aka Lake Monroe Project Phase 4B) in the amount of $2,638,605 - Phyllis Wallace, Interim Public Works Director (386) 878-8965
POTENTIAL MOTION:
Recommendation
"I move to approve and authorize the execution of the Revolving Fund - Amendment 3 to Loan Agreement WW641860 with the Florida Department of Environmental Protection, specific to the Alexander Avenue Reclaimed Water Augmentation Project (aka Lake Monroe Project Phase 4B) in the amount of $2,638,605. The City Manager has the authority to make corrections of scrivener's errors and the like."
END
BACKGROUND:
Background
Resolution 2021-23 authorized the agreement between State and the City of Deltona for the Alexander Avenue Reclaimed Water Augmentation Project (aka Lake Monroe Project Phase 4B). The project as the Mayor & Commission is aware has been determined to be un-constructable. To-date, the City has drawn down on State Revolving Fund loan in the amount of $2,586.868, which will need to be repaid. This agreement documen...
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