Agenda 04/12/2011 Item #16C1
4/12/2011 Item 16.C.1.
EXECUTIVE SUMMARY
Recommendation to authorize the County Manager or designee to notify the Florida
Department of Environmental Protection of the intent to decline a proposed funding
to the State Revolving Fund Loan Agreement (DWIIII 030) for the South County
Regional Water Treatment Plant 12-Million Gallons per Day Reverse Osmosis Plant
Expansion, Project 700971.
OBJECTIVE: That the Board of County Commissioners. as the Ex-Officio Goveming
Board of the Collier County Water-Sewer District, authorize the County Manager or a
designee to notify the Florida Department of Environmental Protection (FDEP) of the
intent to decline a proposed funding to the State Revolving Fund Loan Agreement (DW
1111 030).
CONSIDERATIONS: On March 13, 2007, the Board of County Commissioners
approved Resolution 2007-66 authorizing the county to submit a State Revolving Fund
(SRF) low interest rate construction loan application, and authorizing the Loan
Agreement with the FDEP, for the South County Regional Water Treatment Plant
(SCRWTP) 12-Million Gallons per Day (MGD) Reverse Osmosis (RO) Plant Expansion,
Project 700971.
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On August 9, 2007, the SRF Loan Agreement was signed by the Chairman of the Board
of County Commissioners. the Assistant County Attorney. sealed by the Clerk of the
Circuit Court on behalf of the county, and 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 August 17. 2007. The Agreement executed on August 17, 2007. authorized a
disbursable amount of $8.000.000.
On September 9, 2008. under Agenda Item 16C2. the Board of County Commissioners
(Board) approved Amendment One to the original loan agreement. This Amendment
increased the disbursable amount of the loan to $11.200,000.
On January 12,2010, under Agenda Item 16C4. the Board approved Amendment Two to
the original loan agreement. This /ullendmem increased the disbursable amount of the
loan to $17.039.0S6.
The FDEP has included to their fundable list another $S,OOO.OOO for this project, whieh if
approved will add to the existing debt. increasing it to $22.039.0S6. To strictly adhere to
the pay-as-you-go approach to funding capital projects, statT recommends that this
additional funding offer. albeit a low interest loan of approximately 2.9% per year, be
declined. Foregoing this SS.OOO.OOO to the pre-approved line of credit will save
approximately $332.000 in annual debt service payments. This action will not jeopardize
the District's ability to borrow from the FDEP in the future.
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This financing plan and executive summary was reviewed and approved unanimously by
the county's Finance Committee on March 2S. 2011.
FISCAL IMPACT: Foregoing this $5,000,000 to the pre-approved line of credit will
save approximately $332,000 in annual debt service payments in the water impact fee
fund 411.
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4/12/2011 Item 16.C.1.
LEGAL CONSIDERA nONS: This item has been reviewed and approved by the
County Attorney's Office and is legally sufficient. This action requires a simple majority
vote by the Board. - JEW
GROWTH MANAGEMENT IMPACT: The approval of this request has no impact on
the county's Gro\\th Management Plan.
RECOMMEND A nONS: That the Board of County Commissioners, as the Ex-Officio
Governing Board of the Collier County Water-Sewer District, authorize the County
Manager or designee to notify the Florida Department of Enviromnental Protection of
the intent to decline a proposed funding to the State Revolving Fund Loan Agreement
(OW 1111 030).
PREPARED BY: Bala M. Sridhar, Senior Management and Budget Analyst, Public
Utilities, Operations
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4/12/2011 Item 16.C.1.
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.C.1.
Item Summary: Recommendation to authorize the County Manager or designee to notify
the Florida Department of Environmental Protection of the intent to decline a proposed funding
to the State Revolving Fund Loan Agreement (DW1111 030) for the South County Regional
Water Treatment Plant 12-Million Gallons per Day Reverse Osmosis Plant Expansion, Project
700971.
Meeting Date:
4/12/2011
Prepa,"ed By
Name: SridharBala
Title: Management/Budget Analyst, Senior, Utilities Finane
3/8/2011 10:03:23 AM
Suhmitted by
Title: Director - Operations Support - PUD.Utilities Fina
Name: WidesTom
3/8/2011 10:03 :24 AM
Appl"Oved By
Name: HapkeMargie
Title: VALUE MISSING
Date: 3/25/2011 10:30:45 AM
Name: WidesTom
Title: Director - Operations Support - PUD.Utilitics Filla
Date: 3/25/2011 11 :55:51 AM
Name: DeLonyJim
Title: Administrator - Public [Itilities,
Date: 3/25/20 II I :39:35 PM
Name: WhiteJennifer
Title: Assistant County Attorney,County Attorney
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4/12/2011 Item 16.C.1.
Date: 3/25/2011 4:42:27 PM
Name: KlatzkowJeff
Title: County Attorney,
Date: 3/28/2011 12:09:03 PM
Name: GreenwaldRandy
Title: Management/Budget Analyst,Office of Management & B
Date: 3/29/20114:]4:52 PM
Name: IsacksonMark
Title: Director-Corp Financial and Mgmt Svs,CMO
Date: 4/4/20] 1 12:44:19 PM
Name: IsacksonMark
Title: Director-Corp Financial and Mgmt Svs.CMO
Date: 4/4/2011 2:32:56 PM
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