DEPARTMENT MAKING REQUEST
Utilities
Title
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Florida Department of Environmental Protection (FDEP) Supplemental Appropriation for Hurricanes Fionna and Ian (SAHFI) Loan Agreement DW0802L0 for South County Improvements
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REQUESTED MOTION/ACTION
recommendation
Recommended Action:
a) Approve loan agreement DW0802L0 with the State of Florida Department of Environmental Protection (FDEP) in the amount of $11,000,000.00 with the full loan amount forgiven for the South County Improvements; and
b) Approve Resolution for budget adjustment BA25-127 in the amount of $11,000,000.00; and
c) Approve Resolution authorizing the Chairman to execute the agreement and County Administrator, or designee, to execute future loan agreements and documents relating to the FDEP for the South County Improvements Project; and
d) Authorize the Chair to execute the Agreement and Resolution
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budget
Budgeted Action:
Approve budget adjustment BA25-127 in the amount of $4,559,000 amending the FY25 Capital Improvement Project “Potable Water Storage Tank South County” increasing total budget by $1,275,000 from $4,225,000 to $5,500,000 and the Capital Improvement Project “South County Utility Infrastructure Improvements” increasing total budget by $3,284,000 from $6,216,000 to $9,500,000. SRF loan of $11,000,000 is being applied to both CIP projects at $5,500,000 each within the Water Connection Fee Fund. Financing will be provided by the Supplemental Appropriation for Hurricanes Fionna and Ian (SAHFI) through the Florida Environmental Protection Agency and Clean Water State Revolving Fund (CWSRF). Upon meeting submission deadlines and final inspection of the project and project records, the Florida Department of Environmental Protection is authorized to allow principal forgiveness on the loan principal.
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BACKGROUND (Why is this Action Necessary, and What Action will be accomplished)
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Background:
On November 8th, 2023, the Florida State Revolving Fund announced the Supplemental Appropriations for Hurricane Ian (SAHFI), with $317,415,000 available to clean water projects and $171,295,000 available to drinking water projects.
Appropriations will be awarded as loans with 100% principal forgiveness. Eligible projects include hurricane recovery projects and projects that build community resilience.
Charlotte County has been awarded $11,000,000.00, executed in the form of a loan with 100% of the principal forgiven and a 0% interest rate. Funds will be used to construct an elevated storage tank and water booster station in South County.
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