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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 APPLY FOR THE STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION REVOLVING LOAN PROGRAM FOR POINT SOURCE WATER POLLUTION CONTROL; UPON APPROVAL, EXECUTE THE CORRESPONDING LOAN AGREEMENT, PLEDGING OF STORMW ATER UTILITY FEES AS THE REVENUES TO REPAY THE LOAN, AND PROVIDING FOR CARRYING OUT ALL LOAN RESPONSIBILITIES UNDER THE AGREEMENT; PROVIDING FOR CONFLICTS, PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: $3,230,287.00, plus interest from stormwater fees (approximately $167,000.00 annually))
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(Staff Contact: A. Randolph Brown)
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Summary Explanation/Background:
The City has been approved by the State of Florida Department of Environmental Protection to participate in the State Of Florida Department of Environmental Protection Revolving Loan Program for Point Source Water Pollution Control. This program offers low interest loans for qualifying projects. The Esquire Lake Neighborhood project will reduce the duration and intensity of flooding in the neigborhood after a storm event.
Origin of request for this action: Staff
Fiscal impact and source of funding: 3,230,287, plus interest from stormwater fees (approximately $167k annually)
Strategic Plan Information
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RStrategic Plan Initiative
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1.6.3. Complete projects identified in Master Plan