Title
Incorporated County of Los Alamos Resolution No. 23-30, A Resolution Authorizing the County Council Chair or Los Alamos County Utilities Manager to Approve Submission of Completed Applications and Necessary Documents for 2024 Applications to the Water Trust Board for Funding Water System Projects
Recommended Action
I move that Council Approve Resolution No. 23-30 Authorizing Submission of an Application to the Water Trust Board for the 2024 Funding Cycle.
Utilities Manager's Recommendation
The Utilities Manager recommends that the Council approve as presented.
Body
The Department of Public Utilities (DPU) has chosen to apply to the New Mexico Finance Authority, Water Trust Board (WTB) in the 2024 cycle to fund a project to replace 4,600 feet of 8-inch deteriorated cast iron waterline in San Ildefonso Road. The attached map (Attachment B) shows the limits of the proposed waterline replacement. The new waterline will be up-sized to a 12-inch waterline to support the proposed and planned housing projects on North Mesa. The waterline has experienced an increasing number of failures in recent years and the observed condition of the line during repairs reveal a severely corroded pipeline. The project is estimated to cost $2 million. DPU recommends applying for $2 million from the WTB. While DPU does not know the amount that will be awarded, however, if successful it is anticipated the award will have a 60% grant component, and a 40% loan component (20-year term @ 0% interest, 0.25% administrative fee), with a required match of 20% of the awarded amount which would come from DPU water distribution capital funds.
Alternatives
If the resolution is not approved, an application will not be made for the 2024 funding cycle.
Fiscal and Staff Impact/Planned Item
If the application is made, DPU will budget the project in FY2025 to demonstrate to the NMFA DPU has the required matching funds and for the spending authority if successful in receiving the award...
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