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HomeMy WebLinkAbout4444 Resolution - Public Works Board Loan_Grant of Butterfield WTP Improvements Resolution – PWB Loan/Grant Award for Butterfield WTP - 1 RESOLUTION NO. 4444 A RESOLUTION OF THE CITY OF PASCO, WASHINGTON, AUTHORIZING THE CITY MANAGER TO EXECUTE A $1M LOAN/GRANT ($850K LOAN AND $150K GRANT) WITH THE PUBLIC WORKS BOARD FOR THE BUTTERFIELD WATER TREATMENT PLANT IMPROVEMENTS PROJECT. WHEREAS, the Butterfield Water Treatment Plant (WTP), originally built in 1946, having been expanded and improved through the years has reached the end of its useful life; and WHEREAS, the City of Pasco (City) completed the Butterfield WTP Facilities Plan, which defines a capital improvement strategy to address capacity, water quality, safety, and end- of-life deficiencies; and WHEREAS, on March 21, 2024, the Public Works Board awarded the City of Pasco a low interest loan and grant for the design and construction of this project with a 1.38% interest rate and loan term of five (5) years; and WHEREAS, the City Council of the City of Pasco, Washington, has after due consideration, determined that it is in the best interest of the City to enter into this loan with the Public Works Board. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON: That the City Council of the City of Pasco approves the terms and conditions of the Loan between the City of Pasco and the Public Works Board, attached hereto and incorporated herein by as Exhibit A. Be It Further Resolved, that the City Council hereby authorizes the City Manager to execute to Loan Agreement between the City of Pasco and the Public Works Board; and to make minor substantive changes as necessary to execute the Agreement. Be It Further Resolved, that this Resolution shall take effect immediately. Resolution – PWB Loan/Grant Award for Butterfield WTP - 2 PASSED by the City Council of the City of Pasco, Washington, on this 15th day of April, 2024 _____________________________ Pete Serrano Mayor ATTEST: APPROVED AS TO FORM: _____________________________ ___________________________ Debra Barham, CMC Kerr Ferguson Law, PLLC City Clerk City Attorneys Washington State Public Works Board Post Office Box 42525 Olympia, Washington 98504-2525 Administrative services provided by the Department of Commerce (360) 725-2744 Fax (360) 586-8440 www.pwb.wa.gov March 21, 2024 Adam Lincoln, City Manager City of Pasco 525 N. 3rd Ave Pasco, WA 99301 Dear Adam Lincoln, Thank you for applying to the Public Works Board (PWB) Pre-construction Program. Congratulations, the PWB conditionally approved your pre-construction application at its February 2, 2024 board meeting. Your Butterfield WTP Improvements - Project 1 project has been awarded $1,000,000. The approval date is the award date. Any eligible costs incurred from that date forward are reimbursable. The threshold checks and underwriting for your project are complete. The PWB offers this rate and term for your project: the award will be $850,000 as a loan and $150,000 as a grant. The loan interest rate is 1.38% with a loan term of 5 years. The PWB processes contracts electronically. Upon receipt of the contract, please facilitate its review through your internal process in a timely manner and return an executed contract within 6 months. Failure to do so in that timeframe will result in withdrawal of the award. Once again, thank you for applying to the Public Works Board. Please contact PWB Programs Manager Tammy Mastro by email at tammy.mastro@commerce.wa.gov if you have any questions. Sincerely, Sheila Richardson PWB Programs Director and Tribal Liaison cc: Application File