SUBJECT
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Adopt Resolution 2025-22 to Approve the Third Amendment to FDEP SRF Loan DW532001 for the Southeast Wellfield Project (Action)
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DESCRIPTION
The FDEP SRF Loan DW532001 for the Southeast Wellfield project has been used by the PRWC to support final design services (design services from 60% to completion) for the Southeast Lower Floridan Aquifer Wellfield Project.
The final design services are now complete and FDEP has requested an amendment to finalize the loan amount, semiannual loan payment amount, loan service fee, and project costs. With this amendment, the loan amount awarded is reduced by $19,602.00 for a total award of $21,886,688.00. The semiannual loan payment is also revised to $1,240,875.79 with first payment due on September 15, 2025 and thereafter on March 15 and September 15 of each year until fully paid.
RECOMMENDATION
Adopt Resolution 2025-22 to approve the Third Amendment to FDEP SRF Loan DW532001 for the Southeast Wellfield Project.
FISCAL IMPACT
The total loan amount is now $22,803,392.01 which consists of the $21,886,688.00 disbursed to the PRWC plus accrued capitalized interest of $478,971.01 and service fee charge of $437,733.
CONTACT INFORMATION
Eric DeHaven