TO: Mayor and Members of City Council
THRU: Timothy L. Bryant, CEO/General Manager
Fayetteville Public Works Commission
FROM: Fayetteville Public Works Commission
DATE: February 10, 2025
RE:
Title
Adopt Resolution of the Fayetteville Public Works Commission to Accept a
State Loan Offer Under the Safe Drinking Water Act Amendments of 1996
end
COUNCIL DISTRICT(S):
Council District(s)
All
b
Relationship To Strategic Plan:
High Quality Built Environment
Executive Summary:
The Fayetteville Public Works Commission has approved a resolution to accept a State Loan Offer Under the Safe Drinking Water Act Amendments of 1996 and requests the City Council to adopt a similar resolution accepting the State Loan Offer under the Safe Drinking Water Act Amendments of 1996.
Background:
The Fayetteville Public Works Commission, during their January 22, 2025, meeting, adopted the attached PWC Resolution - PWC2025.02 and requests the City Council to adopt a similar resolution at its February 10, 2025, meeting.
The North Carolina Department of Environmental Quality (DEQ) offered PWC an amendment to increase the previous State Revolving Loan offer of $15,719,300 by $1,571,930 to a total of $17,291,230 for the construction of the P.O. Hoffer WTP/ Glenville Lake WTP Reliability Improvements project. The loan terms for P.O. Hoffer WTP/ Glenville Lake WTP Reliability Improvements project are 20 years, 1.02% interest and 2% closing fee. To accept the loan offer, PWC and the City of Fayetteville (City) must adopt a resolution accepting the loan in the form provided by DEQ.
Issues/Analysis:
N/A
Budget Impact:
N/A
Options:
N/A
Recommended Action:
The Fayetteville Public Works Commission recommends the Fayetteville City Council adopt "Resolution of the City of Fayetteville, North Carolina to Accept a State Loan Offer Under the Safe Drinking Water Act Amendments of 1996" at its February 10, 2025 City Council session.
Attachments:
PWC Resolution ...
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