Title
North Carolina Drinking Water State Revolving Fund Loan Application
Action
Action:
A. Adopt a resolution authorizing Charlotte Water to apply for a Drinking Water State
Revolving Fund loan in an amount not to exceed $50,000,000 for the construction of water transmission mains within the distribution system,
B. Authorize the City Manager to take necessary actions to accept and complete the financing, including applying to the State of North Carolina Department of Environmental Quality and obtaining Local Government Commission approval, and
C. Adopt a budget ordinance appropriating $50,000,000 from the Drinking Water State Revolving Fund Program.
Body
Staff Resource(s):
David Czerr, Charlotte Water
Shawn Coffman, Charlotte Water
Kelly Flannery, Finance
Explanation
§ Charlotte Water is seeking authorization to apply for and accept a loan from the North Carolina Drinking Water State Revolving Fund (Fund) for the construction of the North South Water Transmission Main and the North Tryon Area Pressure Zone Boundary Change projects. Both projects are located in east Charlotte (Council Districts 4 and 5).
§ The Fund is a federally-funded loan program that offers low-interest loans for drinking water related projects, and is administered by the North Carolina Department of Environmental Quality and the North Carolina Local Government Commission.
Fiscal Note
Funding: Charlotte Water Capital Investment Plan
Attachments
Attachment(s)
Resolution
Budget Ordinance