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Lake City News

Lake City Report - March 5, 2010
WWTP Financing - The Blanche -- Master Plan

From City Manager Wendell Johnson

Waste Water Treatment Plant (WWTP) financing

Following Council approval of the bond refinancing proposal on March 1, 2010, the Gollahon financial consultant will meet next Tuesday with me, the Utilities Director and the City Engineer to discuss financing for the new WWTP.

Although the State Revolving Fund (SRF) was previously viewed as the most viable financing option, we will evaluate the potential for use of a new form of bonds known as Build America Bonds (BABs). These “taxable” bonds were created by the Economic Recovery and Reinvestment Act and through Federal subsidies are intended to reduce municipal borrowing costs.

BABs differ with financing that can be extended over a 30 year period vs. the 20 year SRF loan period. BABs are available only through December 31, 2010, but this timing is well-suited for our WWTP funding needs.

Subject to eligibility, the financial advantages of using BAB financing for the new WWTP will be determined by the Staff within the next few days.

Blanche Structural Analysis

An owner representative of the Blanche contacted me late this week and delivered the “as built” construction plans.  These plans will be provided to Jones Edmunds at their request for use in completing the structural assessment and contribute to a significant savings in service costs.

The notice to proceed with the assessment was issued to Jones Edmunds on March 4, 2010 and they will begin before mid-March.

Master Plan Update - Community Redevelopment Agency

The IBI Group of Sarasota, Florida was selected by the CRA as the top firm to prepare the plan.

Staff will meet on March 9, 2010 with IBI Representatives to discuss the scope of the plan update and the associated fee schedule.

It is anticipated that a recommendation for contract award will be presented to the CRA on March 15, 2010.

The City Staff Report is available in pdf format here.


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Lake City Manager Wendell Johnson is on a roll with the Lake City Reports. See what the Lake City government is up to. If you are curious to know how many record requests were handled by the Sunshine Girls, or are interested in how many police calls were handled by the Lake City police department, or even how many gallons of water Steve Robert's state of the art water plant pumped, the Lake City reports is the place to go.


City Staff Report
 • Week ending March 5, 2010