HomeMy WebLinkAboutCape Canaveral WW050510 and WW05050Tim,
Please see Teresa’s email below. Teresa is correct in requesting additional authorization from the City to cover the increase amendment to WW05051. This increase of $480,800 would bring
the total of this loan to $2,769,700 and WW05050 has a disbursable loan amount of $5,298,601 of which $4,022,394 has been disbursed. The two loans combined total exceed the $8.0 million
authorization in the Ordinance which is attached. The $1,276,207 remaining in WW05050 will more that cover the cost of the remaining projects, PS 2 Gravity Sewers Phase 2 and 3, covered
by this loan. These two projects, that will be bid as one construction project, are estimated to cost around $800,000 leaving about $400,000 in unused SRF funds.
Rather than go through the six weeks long process of getting an ordinance on the Council Agenda for two meetings since this will require an ordinance and two readings; the City is requesting
an amendment to WW05050 to reduce the amount of the loan so that another ordinance will not be needed. A revised legal opinion will be needed and will be provided.
I recently discussed this issue with Pankaj and he suggested that a reduction in the Contingencies in the agreement might be appropriate since the major projects under this loan have
been constructed. As a suggestion, reducing the contingency to $80,000, (10% of $800,000) would work.
Thanks and please let us know if additional information will be needed to initiate the amendment.
Don
From: Cruce, Teresa [mailto:Teresa.Cruce@dep.state.fl.us]
Sent: Wednesday, January 18, 2017 3:11 PM
To: j.deleo@cityofcapecanaveral.org
Cc: j.ratliff@cityofcapecanaveral.org; Don <don@theberryhillgroup.com>; Strohl, Megan <Megan.Strohl@dep.state.fl.us>
Subject: Cape Canaveral WW050510
Good Afternoon,
We are working on the increase amendment to the loan for WW050510. Could we please get an updated legal opinion and authorizing resolution? Please feel free to contact me if you have
any questions.
Thanks you,
Teresa L. Cruce
Government Analyst II
State Revolving Fund Program
Division of Water Restoration Assistance
Florida Dept. of Environmental Protection
3900 Commonwealth Boulevard, M.S. 3505
Tallahassee, FL 32399-3000
850-245-2910
teresa.cruce@dep.state.fl.us<mailto:teresa.cruce@dep.state.fl.us>
[Dep Customer Survey]<http://survey.dep.state.fl.us/?refemail=Teresa.Cruce@dep.state.fl.us>
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