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File #: Res.0323-16    Version: A Name: Private Lead Service Lateral Replacement Project
Type: Resolution Status: Passed
File created: 9/20/2016 In control: City Attorney's Office
On agenda: 9/20/2016 Final action: 9/20/2016
Title: Private Lead Service Lateral Replacement Project Resolved, that the Waterworks Commission is granted permission to pursue borrowing funds from the City for the upcoming Private Lead Service Lateral Replacement Project with the intent of reimbusing the City once loand funds are made available. Further resolved, that the City act as the Fiscal Agent for the Private Lead Service Lateral Replacement Project. Funds will be disbursed through the Finance Department with reimbursement provided by a forgivable loan through the Safe Drinking Water Loan Program. Administration of the program will be handled by the Water Utility. Fiscal Note: The maximum per property reimbursement is limited to $2,500.00 with a maximum forgivable loan amount of $500,000.00. This will provide assistance to at least 200 properties.
Sponsors: Q.A. Shakoor II
Related files: 0712-16

Sponsor

Alderman Shakoor

 

Title

Private Lead Service Lateral Replacement Project

 

Resolved, that the Waterworks Commission is granted permission to pursue borrowing funds from the City for the upcoming Private Lead Service Lateral Replacement Project with the intent of reimbusing the City once loand funds are made available.

 

Further resolved, that the City act as the Fiscal Agent for the Private Lead Service Lateral Replacement Project. Funds will be disbursed through the Finance Department with reimbursement provided by a forgivable loan through the Safe Drinking Water Loan Program. Administration of the program will be handled by the Water Utility.

 

Fiscal Note: The maximum per property reimbursement is limited to $2,500.00 with a maximum forgivable loan amount of $500,000.00. This will provide assistance to at least 200 properties.