Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Approving And Authorizing The Appropriate City Officials To Adopt The Deep Injection Wells 3 & 4 Phase 1 Fiscal Sustainability Plan By Executing The State Of Florida State Revolving Fund Project's Fiscal Sustainability Plan Certification.
Strategic Plan Focus
Infrastructure & Facilites
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
The Department of Public Utilities ("DPU") relies on the Florida Department of Environmental Protection State Revolving Fund ("SRF") loan program to help fund capital projects, including DPU's Deep Injection Wells 3 & 4 Phase 1 project.
On November 20, 2019, the City Commission approved Resolution R-2019-094 authorizing a loan application in the amount of $31,960,422.00 to the SRF Loan Program to fund a portion of the Deep Injection Wells 3 & 4 Phase 1 project and authorized executing such loan agreement.
On November 20, 2019, the City executed the Clean Water State Revolving Fund ("CWSRF") Construction Loan Agreement WW0604A0 to fund a portion of the Deep Injection Wells 3 & 4 Phase 1 project with the Florida Department of Environmental Protection.
The CWSRF loan requires that recipients prepare a Fiscal Sustainability Plan ("FSP") prior to the final draw on the SRF loan. Requirements for FSP's include:
a. An inventory of critical assets that are part of the project;
b. An evaluation of the condition and performance of inventoried assets or asset groupings;
c. A certification that the recipient has evaluated and will be implementing water and energy conservation efforts as part of the plan; and
d. A plan for maintaining, repairing, and replacing assets, and a plan for funding such activities.
The DPU Director recommends that the City Commission approve and authorize the appropriate City officials to execute the attached SRF FSP Certification.
Fiscal Impact:
Approval of the attached resolution will not fiscally impac...
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