Title
North Carolina Clean Water State Revolving Fund Loan Application
Action
Action:
A. Adopt a resolution authorizing Charlotte Water to apply for funding from the North Carolina Clean Water State Revolving Fund in an amount not to exceed $38,500,000 for the construction of the Belmont Lift Station and Force main, and
B. Authorize the City Manager to take necessary actions to accept and complete the financing, including application to the State of North Carolina Department of Environmental Quality and obtaining Local Government Commission approval.
Body
Staff Resource(s):
Matthew Hastedt, Finance
Angela Charles, Charlotte Water
Shawn Coffman, Charlotte Water
Explanation
§ The North Carolina Clean Water State Revolving Fund is a federally funded loan program that offers low-interest loans for clean water related projects and is administered by the North Carolina Department of Environmental Quality and the Local Government Commission.
§ Charlotte Water has previously been awarded funds from the North Carolina Clean Water State Revolving Fund.
§ This funding would be used to construct the lift station and force main to serve Belmont as part of the Stowe Regional Wastewater Plant project.
§ The funding would provide for an interest-free construction period with payments beginning after completion of the project.
Fiscal Note
Funding: Charlotte Water Capital Investment Plan
Attachments
Attachment(s)
Resolution