SUBJECT
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Adopt Resolution 2025-23 to Authorize SRF Construction Loan DW532003 for Construction of the Southeast Wellfield Project (Action)
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DESCRIPTION
On March 24, 2025 the FDEP published notice of final agency action for the State Revolving Fund Program (SRF) and awarded the PRWC $14,000,000 in construction funds for the Southeast Wellfield Project. The award also includes $2,456,153 in principal forgiveness. On June 3, 2025 the PRWC submitted the application to FDEP SRF for use of these funds. The FDEP has now requested that the PRWC provide an authorizing resolution that provides the PRWC authorization to apply for the funds, the revenues pledged, and who the authorized representative is for the signing of the loan application and agreement.
The attached Resolution 2025-23 provides this information. Once the FDEP SRF program approves the application and provides the loan agreement to the PRWC it will be brought to the PRWC Board of Directors for consideration.
RECOMMENDATION
Adopt Resolution 2025-23 to authorize SRF Construction Loan DW532003 for the Southeast Wellfield Project.
FISCAL IMPACT
The total loan amount is $14,000,000 with $2,456,153 in principal forgiveness.
CONTACT INFORMATION
Julie Santamaria
Eric DeHaven