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File #: 170258    Version: 0
Type: Resolution Status: Passed
File created: 5/31/2017 In control: COMMON COUNCIL
On agenda: Final action: 6/20/2017
Effective date:    
Title: Resolution authorizing execution of the Wisconsin Department of Natural Resources (the “WDNR”) Principal Forgiven Financial Assistance Agreement.
Sponsors: THE CHAIR
Indexes: INTERGOVERNMENTAL AGREEMENTS, WISCONSIN DEPARTMENT OF NATURAL RESOURCES
Attachments: 1. Fiscal Impact Statement, 2. Agreement

Number

170258

Version

ORIGINAL

Reference

Sponsor

THE CHAIR

Title

Resolution authorizing execution of the Wisconsin Department of Natural Resources (the “WDNR”) Principal Forgiven Financial Assistance Agreement.

Analysis

This resolution authorizes city officials to enter into an agreement with the WDNR's Safe Drinking Water Loan Program (the “SDWLP”) to accept a grant to replace private lead service lines.

 

Body

Whereas, The city wishes to undertake a project to replace private lead service lines, identified as DNR No. 4851-30 (the "Project"); and

 

Whereas, The city has applied to the SDWLP for financial assistance in the form of a loan made by the SDWLP to the municipality of which all the principal will be forgiven at the time the loan disbursements are made to the city, pursuant to the WDNR Principal Forgiven Financial Assistance Agreement; and

 

Whereas, The SDWLP has determined that it can provide a loan with principal forgiveness in an amount up to $2,600,000; now, therefore, be it

 

Resolved, By the Common Council of the City of Milwaukee, that the proper city officials are authorized to execute the Principal Forgiven Financial Assistance Agreement, with such changes to the terms and conditions as recommended by the City Attorney. The Principal Forgiven Financial Assistance Agreement is incorporated herein by this reference.

 

Requestor

Department of Public Works

Milwaukee Water Works

Drafter

Administration

Jennifer Gonda, Superintendent

May 23, 2017