City of Racine - File #: 0225-23

• File #: 0225-23
• Version: A
• Name: Subject: Resolution Regarding Declaration of Official Intent to Reimburse Costs Attributed to 2024 Lead Service Line Replacement Project Recommendation: To Approve with Referral to the Finance & Personnel Committee Fiscal Note: The aggregate princip
• Type: Communication
• Status: Passed
• File created: 3/6/2023
• In control: Finance and Personnel Committee
• On agenda: 4/17/2023
• Final action: 4/17/2023
• Title: Subject: Communication sponsored by Alder Taft, on behalf of the Waterworks Commission submitting a Resolution Regarding Declaration of Official Intent to Reimburse Costs Attributed to the 2024 Lead Service Line Replacement Project. Recommendation of the Finance and Personnel Committee on 04-10-2023: That the Waterworks Commission be allowed Consideration and Approval to submit the Resolution Regarding Declaration of Official Intent to Reimburse Costs Attributed to the 2024 Lead Service Line Replacement Project. Fiscal Note: The aggregate principal amount of debt for the Project is expected not to exceed $3,000,000.00, of which 49% may be allocated as Principal Forgiveness for homeowner private side lead service replacement. Funding for the Project to be financed through the FY 2024 WDNR Safe Drinking Water Loan Program at an anticipated rate of 0.25%.

Date	Ver.	Action By	Action	Result
4/17/2023	A	Common Council	Approved as Presented	Pass
4/10/2023	A	Finance and Personnel Committee	Recommended For Approval
3/21/2023	A	Waterworks Commission	Referred	Pass

Title

Subject: Communication sponsored by Alder Taft, on behalf of the Waterworks Commission submitting a Resolution Regarding Declaration of Official Intent to Reimburse Costs Attributed to the 2024 Lead Service Line Replacement Project.

Recommendation of the Finance and Personnel Committee on 04-10-2023: That the Waterworks Commission be allowed Consideration and Approval to submit the Resolution Regarding Declaration of Official Intent to Reimburse Costs Attributed to the 2024 Lead Service Line Replacement Project.

Fiscal Note: The aggregate principal amount of debt for the Project is expected not to exceed $3,000,000.00, of which 49% may be allocated as Principal Forgiveness for homeowner private side lead service replacement. Funding for the Project to be financed through the FY 2024 WDNR Safe Drinking Water Loan Program at an anticipated rate of 0.25%.