Agenda 07/22/2008 Item #16C 7Agenda Item No. 16C7
July 22, 2008
Page 1 of 7
EXECUTIVE SUMMARY
Recommendation to authorize submission of Amendment two (2) to The State
Revolving Fund Loan Agreement (WWG120597151 03) Through The Florida
Department Of Environmental Protection (FDEP) for the North County Water
Reclamation Facility (NCWRF) Expansion To 24.1 MGD — Solid Stream, and the
NCWRF Expansion landscape installation project 739502.
OBJECTIVE: That the Board of County Commissioners, as the Ex- Officio Governing
Board of the Collier County Water -Sewer District, authorize submission of Amendment
two to the State Revolving Fund Loan Agreement (WWGI2059715L 03) with the FDEP.
CONSIDERATIONS: On June 24, 2003, the Board of County Commissioners
approved Resolution 2003 -222 to authorize the County to submit a State Revolving Fund
(SRF) low interest rate construction loan application and to authorize the Loan
Agreement with FDEP, for the North County Water Reclamation Facility (NCWRF)
Expansion to 24.1 - Million Gallons Per Day (MGD) Maximum Monthly Average Daily
Flow (MMADF) Solid Stream, Project 739502.
On June 24, 2003, the Public Utilities Division Administrator and the Assistant County
Attorney executed the SRF Loan Agreement on behalf of the County and it was
submitted to the FDEP. The Loan Agreement was fully executed on behalf of the State
of Florida and the FDEP by the Chief Executive Officer on June 30, 2003. The
Agreement executed on June 24, 2003, authorized a disbursable amount of $17,908,000.
On July 28, 2004, Amendment One to the original Loan Agreement was approved. This
Amendment reduced the loan from an estimated construction cost to actual contracted
cost for this project. The Amendment executed on July 28, 2004 adjusted the disbursable
amount of the loan to $11,113,000.
On July 28, 2004, the Public Utilities Division Administrator and the Assistant County
Attorney executed SRF Loan Amendment One on behalf of the County and it was
submitted to the FDEP. Loan Amendment One was fully executed on behalf of the state
of Florida and the FDEP by the Chief Executive Officer on August 5, 2004.
Amendment Two reflects the actual costs of the project and what has been disbursed to
date. The Loan has been reduced by $1,009,076, and the adjusted total disbursed amount
for the Loan is $10,103,924. The Semiannual Loan Repayment amount has been
adjusted to account for repayments that have been made toward the Loan and has been
revised to an amount of $334,120.87. The final total Principal Amount, including
Capitalized Interest, has been modified to an amount of $10,280,778.43.
FISCAL IMPACT: SRF Loan Amendment Two adjusts the Loan Amount, excluding
capitalized interest, to $10,103,924. The semiannual loan repayment amount has been
adjusted to an amount of $334,120.87 over a 20 -year loan cycle at 2.9 %.
LEGAL CONSIDERATIONS: The proposed Amendment Two (2) has been approved
for legal sufficiency by the Office of the County Attorney.
Agenda Item No. 16C7
July 22, 2008
GROWTH MANAGEMENT IMPACT: The adoption of this resolution has no impacige 2 of 7
on growth management.
RECOMMENDATIONS: That the Board of County Commissioners, as the Ex- Officio
Governing Board of the Collier County Water -Sewer District, authorize submission of
Amendment two to the State Revolving Fund Loan Agreement (WWG12059715L 03)
with the FDEP.
PREPARED BY: Bala M. Sridhar, Senior Management and Budget Analyst, Public
Utilities, Operations
Agenda Item No. 16C7
July 22, 2008
.AMI6NDMENT 2 TO LOAN AGREEMENT WWG12059715L 03 Page 3 of 7
COLLIER COUNTY
This amendment is executed by the FLORIDA WATER POLLUTION CONTROL FINANCING
CORPORATION (the "Corporation ") and COLLIER COUNTY, FLORIDA, (the "Local Borrower ")
existing as a Local Borrower agency under the laws of the State of Florida.
WITNESSETH:
WHEREAS, the Corporation and the Local Borrower entered into a Clean Water State Revolving Fund
Loan Agreement, Number WWG12059715L 03, as amended, authorizing a Loan amount of $11,113,000,
excluding Capitalized Interest; and
WHEREAS, the Loan (Amount and Project costs need adjustment to reflect actual costs; and
WHEREAS, the mi nual Loan Payment amount needs revision to reflect adjustment of project costs
and the four Semiann al Loan Payments received by the Department from the Local Government; and
WHEREAS, revised provisions for audit and monitoring are needed; and
WHEREAS, an updated Project definition is needed.
NOW, THEREFORE, the parties hereto agree as follows
1. The Lnan!amount is hereby reduced by $1,009,076, and the adjusted total disbursed amount
for this loan is $10,1011,924.
2. The L an (Service Fee of $222,260.00 was paid in full by the County in the
September 15, 20 6 payment. This amount represents the Service Fee established in Amendment 1.
Capitalized intere t on the Loan Service Fee was $22,470.74 for a total service fee charge of
$244,730.74.
3. The total mount to repay by the Local Borrower is $10,525,509.17, which consists of
$10,103,924.00 disbu�sed to the Local Borrower, $176,854.43 of accrued Capitalized Interest and
$244,730.74 ofservic fee charges.
4. The total ount remaining to repay which amount accounts for the Department's receipt of
four Semiannual moan Payments is $9,323,827.11, consisting of unpaid principal of the Loan at a
combined rate of ihter st and Grant Allocation Assessment of 2.90 percent per annum (the interest rate is
1.45 percent per annum, and the Grant Allocation Assessment rate is 1.45 percent per annum).
5. The 4mi¢nnual Loan Payment amount, adjusted to account for repayments received to date,
is hereby revised and ¢hall be in the amount of $334,120.87. Such payments shall be received by the
Trustee on September, 15, 2008 and semiannually thereafter on March 15 and September 15 of each year
until all amounts due hereunder have been fully paid.
6. Subseptiohs 2.04(1) and (3)(a)(i) of the Agreement, as amended, are replaced as follows:
i
Agenda Item No. 16C7
July 22, 2008
The Local ! Bortower agrees to the following audit and monitoring requirements. Page 4 of 7
(1) The financial assistance authorized pursuant to this Loan Agreement consists of the
following:
Federal Resources,
Including State Match, Awarded to the Recipient Pursuant to this Agreement Consist of the
—Following:
Federal
State
Program
Federal
CFDA
Funding
Appropriation
Number
Agency
Number
CFDA Title
Amount
Category
Capitalization Grants for
CS120001 -030'
EPA
66.458
$10,103,924
140131
State Revolving Funds
(3) Report Submission.
(a) Copies of reporting packages for audits conducted in accordance with OMB Circular A -133,
as revised, and required by Subsection 2.03(2) of this Agreement shall be submitted, when required by
Section .320 (d), OMB Circular A -133, as revised, by or on behalf of the Local Borrower directly to each
of the following:
(i) The Department of Environmental Protection at each of the following addresses:
Robert E. �lolmden, P.E., Chief
Bureau of (Water Facilities Funding
Florid D partment of Environmental Protection
2600 )�lai� Stone Road, MS 3505
Tallah s;2, Florida 32399 -2400
Joe Aita, Audit Director
Office of the Inspector General
Florida Department of Environmental Protection
3900
7. Project G
mwealth Boulevard, MS41
Florida 32399 -3123
are revised as follows:
The Local Bo ower, the Corporation, and the Department acknowledge that changes in Project
costs may occur as a result of the Local Borrower's Project audit or a Department audit pursuant to
Chapter 62 -503 of the Florida Administrative Code. Unless this Agreement is amended subsequent to an
audit, the following Project disbursements shall be final.
CATEGORY
and Demolition
iical Services During Construction
SUBTOTAL (Total Disbursed)
alized Interest
TOTAL (Loan Principal Amount)
DISBURSED
8,929,054.00
1,174,870.00
10,103,924.00
176,854.43
10,280,778.43
Agenda Item No. 16C7
July 22, 2008
Page 5 of 7
8. Subsection 1.01(18) of the Agreement is replaced as follows:
(18) "Prect" shall mean the works fmanced by this Loan and shall consist of furnishing all
labor, materials, Od equipment to construct wastewater treatment facilities improvements in accordance
with the plans and specifications accepted by the Department for the "North County Water Reclamation
Facility Expansion tc 124.1 MGD — Solid Stream," as well as the "NCWRF Expansion Landscape
Installation" contract$II.
The Project iA in agreement with the Collier County NCWRF Expansion to 30.6 MGD Facilities
Plan Update, dated July 2002. Approval of this Project is provided by the Florida Finding of No
Significant lmpac darted September 6, 2002. This Project is a Capitalization Grant Project as defined in
Chapter 62 -503, Florida Administrative Code.
All other
and provisions of the Loan Agreement shall remain in effect.
REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
93
Agenda Item No. 16C7
July 22, 2008
Page 6 of 7.
I i
This AmendiTent 2 to Loan Agreement W WG120597151, 03 shall be executed in three or more
counterparts, any of which shall be regarded as an original and all of which constitute but one and the
same instrument
IN WITNESS WHEREOF, the Corporation has caused this amendment to the Loan Agreement to be
executed on ibs be6�•alf by its Chief Executive Officer and the Local Borrower has caused this amendment
to be execute d on 6ts behalf by its Authorized Representative and by its affixed seal. The effective date
of this amendmen{ shall be as set forth below by the Chief Executive Officer of the Corporation.
I I
for
PLORMA WATER POLLUTION CONTROL FINANCING CORPORATION
Chief Executive Offrcet
for
Date
COLLIER COUNTY
Attest: Dwight E. crock, Cleric Board of County Commissioners of Collier County, Florida, as Ex-
Officio the Governing Board of the WaterSewer District
By.
Tom Henning, Chairman
Approval as to form and legal
Sufficiency:
Jennifer A_ Belpedio
Assistant County Attorney �.
APPROVED AND ACCEPTED BY THE STATE OF FLORIDA DEPARTMENT OF
ENVIRONMENTAL PROTECTION.
Deputy Director
Division of Water Resource Management
4
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Agenda Item No. 16C7
July 22, 2008
Page 7 of 7
COLLIER COUNTY
BOARD OF COUNTY COMMISSIONERS
Item Number: 16C7
Item Summary: Recommendation to authorize submission of Amendment two (2) to The State Revolving
Fund Loan Agreement (WWG120597151 03) through The Florida Department Of
Environmental Protection (FDEP) for the North County Water Reclamation Facility ( NCWRF)
Expansion To 24.1 MGD Solid Stream, and the NCWRF Expansion landscape installation
project 739502.
Meeting Date: 7/22/2008 9.00:00 AM
Approved By
Thomas Wides
Operations Director
Date
Public Utilities
Public Utilities Operations
6/30/2006 8:01 AM
Approved By
Jennifer A. Belpedio
Assistant County Attorney
Date
County Attorney
County Attorney Office
7/3/2008 2:45 PM
Approved By
James W. DeLony
Public Utilities Administrator
Date
Public Utilities
Public Utilities Administration
7/7/2008 8:01 AM
Approved By
OMB Coordinator
OMB Coordinator
Date
County Manager's Office
Office of Management & Budget
W712008 10:38 AM
Approved By
Susan Usher
Senior Management /Budget Analyst
Date
County Manager's Office
Office of Management & Budget
7/712008 9:32 PM
Approved By
James V. Mudd
County Manager
Date
Board of County
County Manager's Office
7/8/2008 10:08 AM
Commissioners
file: / /C:AAgendaTest \Export\1 11- July %2022, %202008\ 16. %20C0NSENT %20AGENDA\1 ... 7/15/2008