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A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING THE CITY'S FISCAL SUSTAINABILITY PLAN FOR THE STORMWATER IMPROVEMENTS PROJECT NO. SW062440, RELATING TO THE FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION (FDEP) STATE REVOLVING FUND (SRF); PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: N/A)
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(Staff Contact: Renuka Mohammed)
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Summary Explanation/Background:
The City entered into Clean Water State Revolving Fund (CWSRF) Loan Agreement No. SW062440 with the Florida Department of Environmental Protection (FDEP) to fund three (3) stormwater improvement projects within the City. These projects are now completed; however,
as part of the loan closeout process, Section 8.11 of the Loan Agreement requires the City to develop and implement a Fiscal Sustainability Plan (FSP) prior to approval of the final loan disbursement.
The FSP provides for the long-term management of the stormwater infrastructure improved under the project and addresses critical assets, asset condition and performance, water and energy conservation efforts, and the maintenance, repair, replacement, and funding of the improvements. .
The pledged revenues for the loan are stormwater rates and net stormwater system revenues. The projects included under SW062440 are as follows:
? Gateway Drive Stormwater Improvements Project - completed in May 2022.
? SW 2nd Street Drainage Improvements Project - completed in June 2023.
? NE 27th Avenue and NE 16th Lane Stormwater Improvements Project - completed in March 2026.
Approval and acceptance of the FSP will satisfy this loan requirement and allow the City to proceed with project closeout and final disbursement.
Origin of request for this action: Utilities
Fiscal impact and source of funding: Previously approved loan in the amount of $8,672,665
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?Strategic Plan Initiative
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