Number
170382
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution authorizing execution of the Department of Natural Resources Principal Forgiven Financial Assistance Agreement for State Fiscal Year 2018.
Analysis
Resolution authorizing entering into an agreement with the state's Safe Drinking Water Loan Program (“SDWLP”) relating to a grant to replace private Lead Service Lines (LSL).
Body
Whereas, The City wishes to undertake a project to replace private lead service lines, identified as DNR No. 4851-31 (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 that loan disbursements are made to the City, pursuant to the DNR Financial Assistance Agreement; and
Whereas, The SDWLP has determined that it can provide a loan with principal forgiveness in an amount up to $1,000,000 for State Fiscal Year 2018 (LSL Year 2) that it has identified as being eligible for SDWLP funding; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the proper city officials are authorized by and on behalf of the City to execute the Principal Forgiven Financial Assistance Agreement, with such changes as may be recommended by the City Attorney, that contains the terms and conditions of the SDWLP award for the Project. The Principal Forgiven Financial Assistance Agreement for State Fiscal Year 2018 is incorporated herein by this reference.
Requestor
Department of Public Works
Milwaukee Water Works
Drafter
Jennifer Gonda, Superintendent
June 12, 2017