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A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE AMENDMENT 1 TO LOAN AGREEMENT BETWEEN THE CITY OF POMPANO BEACH AND THE STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION, RELATING TO THE REVOLVING LOAN AGREEMENT NO. DW062480 FOR DRINKING WATER FACILITIES; PROVIDING AN EFFECTIVE DATE
(Fiscal Impact: N/A)
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(Staff Contact: A. Randolph Brown)
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Summary Explanation/Background:
March 22, 2022 City Officials approved resolution number 2022-111 authorizing the application of the State Revolving Fund (SRF) loan agreement for the C-51 Reservoir. The project has experienced delays resulting in the need for an extension.
FDEP provided us with a new construction completion date of February 15, 2024. This amendment will allow us to continue to secure this loan by providing additional time for project completion. The accompanied agreement requires City Officials Signatures.
Origin of request for this action: Utilities
Fiscal impact and source of funding: N/A
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