HomeMy WebLinkAbout2017-07-24-J09 SRF Construction Loan Application AGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: July 24, 2017
AGENDA ITEM: Consideration of approval of a resolution approving and authorizing
Construction Loan Application, Clean Water SRF, for inclusion in the
Iowa Finance Authority State Revolving Fund
FORMAT: Resolution
SYNOPSIS INCLUDING PRO & CON: The SRF Construction Loan Application is for the
following projects:
NW Trunk Sewer – Phase I
NW Trunk Sewer – Phase II & III
Little Walnut Creek Regional Lift Station Expansion
South Outfall Sewer
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS:
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT:
RECOMMENDATION: Approve the resolution.
ATTACHMENTS: I. Proposed Resolution
II. SRF Construction Loan Application
PREPARED BY: Becky Schuett
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
THE CITY OF WAUKEE, IOWA
RESOLUTION 17-
APPROVING AND AUTHORIZING CONSTRUCTION LOAN APPLICATION,
CLEAN WATER SRF, FOR INCLUSION IN THE IOWA FINANCE AUTHORITY
STATE REVOLVING FUND
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE, IOWA
WHEREAS, the City of Waukee, Dallas County, State of Iowa, is a duly organized Municipal
Organization; AND,
WHEREAS, the City of Waukee proposes to submit a Construction Loan Application, Clean
Water SRF, to the Iowa Finance Authority for the following sewer infrastructure projects:
Northwest Area Trunk Sewer – Phase I
Northwest Area Trunk Sewer – Phases II & III
Little Walnut Creek Regional Lift Station Expansion
South Outfall Sewer; AND,
WHEREAS, the filing of the Construction Loan Application is in the best interest of the citizens
of the City of Waukee, Iowa, and should be authorized.
APPROVED AND ADOPTED by the City Council of the City of Waukee, Iowa on this 24th
day of July, 2017.
____________________________
William F. Peard, Mayor
Attest:
___________________________________
Rebecca D. Schuett, City Clerk
ROLL CALL VOTE AYE NAY ABSENT ABSTAIN
Anna Bergman
R. Charles Bottenberg
Brian Harrison
Shelly Hughes
Larry R. Lyon
Construction Loan Application
☒ Clean Water SRF ☐ Drinking Water SRF
Borrower: City of Waukee, Iowa
Tax ID Number: #42-6006605
Contact person/Title: John Gibson, Public Works Director
Address: 805 University Avenue
City: Waukee County: Dallas Zip Code: 50263
Telephone Number: 515-987-4363 E-mail address: jgibson@waukee.org
Please write a brief description of the project: Northwest Area Trunk Sewer Extension – Phase
1: 3,855 linear feet of 12-inch through 36-inch diameter sanitary sewer in open cut, 535
linear feet of 24-inch through 36-inch diameter sanitary sewer directional bored in place,
manholes, excavation and backfill, surface restoration and miscellaneous associated work,
including cleanup.
Little Walnut Creek Regional Lift Station Expansion: 9,525 linear feet of 16-inch diameter
force main directional bored in place or in open cut, 220 linear feet of 16-inch diameter
force main augured in place in steel casing pipe, 3 air release manholes, lift station
modifications, excavation and backfill, surface restoration and miscellaneous associated
work, including cleanup.
Northwest Area Trunk Sewer Extension – Phases 2 and 3 / Copeland Trunk Sewer - Phase 1:
6,820 linear feet of 8-inch through 24-inch diameter sanitary sewer in open cut, 140 linear
feet of 24-inch diameter sanitary sewer directional bored in place, manholes, excavation
and backfill, surface restoration and miscellaneous associated work, including cleanup.
South Outfall Sewer: 10,600 linear feet of 8-inch through 36-inch diameter sanitary sewer
in open cut, 220 linear feet of 36-inch diameter sanitary sewer tunneled in place, manholes,
excavation and backfill, surface restoration and miscellaneous associated work, including
cleanup.
2
Have construction contracts been awarded? ☒ Yes ☒ No
If Yes - provide the actual contract dates. If No, provide the expected dates:
Construction start date: October 14, 2016
Substantial completion date: August 31, 2018
Final completion date: August 31, 2018
Does this project have CDBG? ☐ Yes ☒ No
If yes, who is grant administrator? Click here to enter text.
Are you interested in an extended term loan (up to 30 years)? ☐ Yes ☒ No
If yes, has the extended term worksheet been completed by an engineer and submitted to
DNR? ☐ Yes ☐ No
Type of debt requested (check one): G.O. ☐ Revenue ☒ Combination ☐
3
Project Cost Breakdown
Administrative, Financial & Legal expenses $223,000.00
Planning & Design expenses $711,000.00
Engineering construction expenses $644,000.00
Construction $7,424,000.00
Equipment $1,521,000.00
Other- Specify (Easements) $510,500.00
Other- Specify Click here to enter text. $Click here to enter text.
Other- Specify Click here to enter text. $Click here to enter text.
Other- Specify Click here to enter text. $Click here to enter text.
Contingency $1,440,700.00
Total Project Cost $12,474,200.00
Minus Funds from other sources $Click here to enter text.
SRF Loan Subtotal $12,474,200.00
1/2% loan origination fee (.005 x SRF amount) $62,371.00
Total SRF Loan (round to nearest $1,000) $12,537,000.00
Sources of Funds
Total SRF Loan (from above) $12,537,000.00
Federal grant or loan- Click here to enter text. $Click here to enter text.
Applicant’s share $12,537,000.00
Other- Specify $Click here to enter text.
Total Source of Funds $12,537,000.00
The application must include the following documentation with the completed application.
☒ A pro-forma prepared by a registered Municipal Advisor showing detail of the revenues,
expenses, outstanding debt and debt coverage ratios for the system. At a minimum, the pro-forma
should show financial information based on actuals for the past two-years, the current year and
projections for the next two years.
The undersigned is duly authorized to request this loan on behalf of the Borrower. The Borrower
declares under penalty of law that all facts given and information attached are true and correct. The
Borrower authorizes IFA to verify all information.
Authorized Signature Date
Typed Name and Title: Click here to enter text.
Mail, fax or email completed application to:
Iowa Finance Authority |2015 Grand Avenue |Des Moines, IA 50312
515.725.4900 | 800.432.7230 | fax 515.725.4901
Tracy.scebold@iowa.gov or Alyson.fleming@iowa.gov