Explanation
1. BACKGROUND
Need: The Ohio EPA requires this legislation which authorizes the Director of Public Utilities to execute 19 WPCLF loan agreements totaling approximately $80 million, for 19 Sewerage & Drainage Division projects. These Capital Improvements Projects, as identified in Section 1., are being financed through the Ohio Water Pollution Control Loan Fund (WPCLF). This loan program is jointly administered by the Ohio EPA's Division of Environmental and Financial Assistance, and the Ohio Water Development Authority (OWDA). The WPCLF provides below-market interest rate loans for municipal wastewater treatment improvements.
2. EMERGENCY DESIGNATION: WPCLF loan applications are now being processed for 2006 CIP projects. This authorizing legislation must be submitted to the Ohio EPA as a part of each loan application and is a prerequisite for WPCLF loan agreement approval.
3. FISCAL IMPACT
Budgeted Amount: There is sufficient budget authority in the 2006 Sewer System Operating Fund for application fee expenditures. These loans will be paid off over a 20-year period from sewerage system fees. Sewerage fee increases have been projected and planned in anticipation of these projects and loans.
Title
To authorize the Director of Public Utilities to execute nineteen (19) Water Pollution Control Loan Fund Agreements with the Ohio Water Development Authority and the Ohio Environmental Protection Agency, for the financing of 19 Sewerage and Drainage Division projects, and to declare an emergency.
Body
WHEREAS, in 2006 the City is scheduled to submit loan applications to the Ohio EPA under the Ohio Water Pollution Control Loan Fund (WPCLF),to finance nineteen (19) Division of Sewerage and Drainage projects, which assistance will be of help in reducing total project costs to the City's sewerage customers; and
WHEREAS, the City is required to submit to the Ohio EPA a certified copy of the approved City Council legislation wh...
Click here for full text