Subject:
Title
Approval of Resolution granting the County Manager of Brevard County, Florida authorization to: submit an application to the Florida Department of Environmental Protection for financial assistance under the State Revolving Fund Program for the West Cocoa Wastewater Improvements Project; provide assurances; execute the loan agreement; and represent the County in carrying out responsibilities under the loan agreement.
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Fiscal Impact:
The estimated construction cost of Phase 1 is $3,102,900. The S R F loan will cover construction costs and require up to a 20-year payback period. The current rate of interest on an S R F loan is approximately 1%. Completion of all phases of this project is anticipated to cost approximately $10,940,700. Funding is currently being requested for Phase 1 only. Any required budget changes will be processed after Board and State approval of this loan application.
Dept/Office:
Utility Services
Requested Action:
It is requested that the Board approve a Resolution granting the County Manager authorization to submit an application to the Florida Department of Environmental Protection for financial assistance under the State Revolving Fund Program for the West Cocoa Wastewater Improvements Project, (project #WW05117)) as well as to provide assurances, execute the loan agreement, and represent the County in carrying out responsibilities under the loan agreement. It is also requested that the Board authorize the budget changes necessary to implement this project...Recommendation
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Summary Explanation and Background:
The West Cocoa Wastewater Improvements Project consists of improvements to Brevard County's West Cocoa wastewater collection and transmission system including lift stations, force mains, and gravity mains which are aging infrastructure that require rehabilitation and/or replacement. Several of the existing lift stations were originally privately-owned and are now owned and maintained by the Brevard County ...
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