Explanation
BACKGROUND: This legislation is needed in order for the City to pay the Ohio Water Development Authority (OWDA) loan fee for a Division of Water capital project receiving funding through the Ohio Environmental Protection Agency’s Water Supply Revolving Loan Account (WSRLA) which is administered by OWDA. The loan fee has been invoiced for the following project which was awarded WSRLA loan financing at the February 27, 2025 Ohio Water Development Authority Board meeting:
WQAL Equipment - LC/MS/MS for Emerging Contaminants; CIP# 691607-100001; Loan amount: $538,130.45; Loan Fee: $1,883.00.
This Water project (identified in Section 1) has been approved for financing through the Ohio Water Supply Revolving Loan Account (WSRLA) and authorized via Ordinance 0859-2024 which passed April 15, 2024.
The Water Supply Revolving Loan Account (WSRLA) loan program is jointly administered by the Ohio EPA Division of Environmental and Financial Assistance and the Ohio Water Development Authority (OWDA). The WSRLA provides below-market interest rate loans for municipal wastewater treatment improvements. The interest rate for this loan is 0.00%.
FISCAL IMPACT: $1,883.00 is needed for Loan Fee expenditures.
CONTRACT COMPLIANCE: Ohio Water Development Authority (31-6402047-207) is not contract compliant as it is a governmental agency (State of Ohio).
EMERGENCY DESIGNATION: The City is required to pay the OWDA loan fee upon the execution of the loan agreement. The loan agreement was approved by the OWDA Board on February 27, 2025. The executed loan agreement along with the loan fee invoice has been generated for payment by the City and received February 27, 2025. Loan Fund Payment Requests to pay the contractor for construction work on this project cannot be processed until the loan fee is paid in full. An emergency designation is therefore requested in order to meet the payment obligations of the construction contract and to ensure the project does n...
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