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A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, RESCINDING RESOLUTION NO. 2026-18, AND APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO APPLY FOR THE STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION REVOLVING LOAN PROGRAM FOR DRINKING WATER FACILITIES; UPON APPROVAL, EXECUTE THE CORRESPONDING LOAN AGREEMENT, CARRYING OUT ALL LOAN RESPONSIBILITIES UNDER THE AGREEMENT; ESTABLISHING PLEDGED REVENUES; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: N/A)
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(Staff Contact: Renuka Mohammed)
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Summary Explanation/Background:
The Utilities Department requests City Commission approval to rescind and replace Resolution 2026-18 in order to incorporate required Florida Department of Environmental Protection (FDEP) language for Drinking Water State Revolving Fund Loan DW0624C in the amount of $30,000,0000, which includes $6,000,0000 in principal forgiveness to finance the Water Treatment Plant Improvements Phase 1: Buildout of the Existing NF Facility. On April 7, 2026, FDEP requested revisions to clarify that water and sewer revenues are pledged as the source of repayment and to remove the fixed loan amount, allowing for cost adjustments at loan finalization. The new revised resolution was coordinated with the City Attorney's Office to ensure compliance and flexibility. The original fiscal Impact remains the same to be financed over a maximum 20-year term at a below-market interest rate, and supports the City's strategic and comprehensive plan goals for sustainable, reliable utility infrastructure requirements.
Origin of request for this action: Utilities
Fiscal impact and source of funding: N/A
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?Strategic Plan Initiative
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Strategic Plan: Goal 4 (Item 6): Superior Capacity for Growth through Quality, Sustainable Development - Expand and enhance utility infrast...
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