Explanation
BACKGROUND: This legislation is needed in order for the City to pay the requisite Ohio Water Development Authority (OWDA) loan fees for two Division of Sewerage and Drainage capital projects receiving funding through the Ohio Environmental Protection Agency’s Water Pollution Control Loan Fund (WPCLF) which is administered by OWDA. The loan fees have been invoiced for the following projects which were awarded loan funding at the May 26, 2016 Ohio Water Development Authority Board meeting:
BWARI Biofilter project (CIP# 650490-100002); Loan amount: $3,606,900.00; Loan Fee: $12,624.00
Blueprint Hilltop Lining (CIP# 650875-100002); Loan amount: $6,719,744.52; Loan Fee: $23,519.00
These Sanitary System Engineering Section projects (identified in Section 1) have been approved for financing through the Ohio Water Pollution Control Loan Fund (WPCLF) and authorized via Ordinances 2516-2013, passed December 19, 2013 and 2241-2015, passed October 19, 2015, respectively.
The Water Pollution Control Loan Fund (WPCLF) loan program is jointly administered by the Ohio EPA 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. The interest rate for both of these loans loan is 1.77%.
FISCAL IMPACT: There is sufficient budget authority in the 2016 Sewer System Operating Fund 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 loan fees upon the execution of the loan agreements. These loan agreements were approved by the OWDA on May 26, 2016 and the executed loan agreements along with the loan fee invoices have been generated for payment by the City. Loan Fund Payment Requests for the construction work for these projects cannot be pr...
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