The City has been the recipient of several Florida Department of Environmental Protection (FDEP) State Revolving Fund (SRF) loans to help finance the construction of wastewater capital improvement projects.  The first step to applying for loans under the program requires the submission of a facilities funding plan to FDEP.  The SRF loans offer attractive interest rates (typically less than 3% and less than 1% on the most recent loan) and flexible payment terms with no penalty for early prepayment. The facilities plans lay out capital needs and funding sources for roughly a five-year period.  The first facilities plan required under the SRF Program was approved by City Council on June 21, 2004.  The second plan submitted to FDEP was approved by City Council on April 26, 2010.  Projects under the 2010 Plan are now coming to a close and it is time to submit a new facilities plan for the next multi-year cycle.  Projects under the new 2016 Clean Water SRF Facilities Plan include – Dean Road Sanitary Sewer Improvements, Kirkman Road Sanitary Sewer Improvements, various Lift Station Improvements, Iron Bridge Low Voltage and Dewatering Improvements, and Water Conserv II Filter Replacement. 

Submission of the 2016 Clean Water SRF Facilities Plan to FDEP for approval does not constitute a commitment to borrowing a certain amount of funds.  However, FDEP approval of the plan makes the City eligible to later apply for funds for projects identified in the 2016 Clean Water SRF Facilities Plan, if needed.  If funds are sought under the approved plan, all applications and loan agreements are brought to City Council for approval.  Projects under the plan amount to about $61 million and may be partially or fully funded by SRF loan proceeds.

The State also requires the City to present the 2016 Clean Water SRF Facilities Plan at a public meeting and provide the opportunity for public comment. The duly advertised public meeting was held on December 2, 2016. Following the meeting, Council is required to adopt a resolution in favor of the Wastewater Facilities Plan and Capital Financing Plan and commit to dedicating a revenue source for the repayment of the SRF loan.  Although the City may not apply for full funding of the projects listed in the plan, the City’s Wastewater system fees and charges are projected to exceed debt service coverage requirements on the full estimated $61 million.

Approval of the Wastewater Facilities Plan and Capital Financing Plan for the State Revolving Loan Fund Program and adopt the State Revolving Fund Wastewater Facilities Plan Resolution in support of the Plan.