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A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, RESCINDING RESOLUTION NO. 2026-19, AND APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO APPLY FOR THE STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION STATE REVOLVING FUND LOAN PROGRAM, LOAN AGREEMENT NO WW0624E, TO FINANCE DEEP INJECTION WELL 2; MAKING FINDINGS; AUTHORIZING THE LOAN APPLICATION; APPROVING AND AUTHORIZING THE LOAN AGREEMENT; DESIGNATING AUTHORIZED REPRESENTATIVES; AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE THE LOAN AGREEMENT; PROVIDING ASSURANCES; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE
(Fiscal Impact: Reduction of $373,000 (from the original amount of $10,604,695)
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(Staff Contact: Renuka Mohammed)
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Summary Explanation/Background:
The Utilities Department request City Commission approval to rescind and replace Resolution 2026-19 in order to incorporate required Florida Department of Environmental Protection (FDEP) language for Clean Water State Revolving Fund Loan WW0624E0 in the amount of $10,231,695 to finance the Emerging Contaminants Water Treatment Plant Upgrades Phase I - Deep Injection Well (IW-2). On January 6th, 2026, FDEP requested revisions to clarify that water and sewer revenues are pledged as the source of repayment and to remove a fixed loan amount to allow for cost adjustments at loan finalization. The new revised resolution was coordinated with the City Attorney's Office to ensure compliance and flexibility. The loan amount also reflects a fiscal impact reduction following acceptance of $373,000 in 100% principal loan forgiveness. The loan amount will 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: $10,231,695 financed with maximum SRF ...
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