Item Coversheet

BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT

Item No. 7.C.
For Meeting of: January 7, 2020

ITEM TITLE:Resolution for the Water/Irrigation Division's Public Works Trust Fund Loan contract for water line improvements
SUBMITTED BY:

Scott Schafer, Public Works Director

Dave Brown, Water/Irrigation Division Manager - (509) 575-6204

SUMMARY EXPLANATION:
The Washington State Public Works Board provides for Public Works Trust Fund Loans to cities for qualifying and approved projects.  The City of Yakima Water/Irrigation Division applied for a Public Works Trust Fund Loan to fund a water project that will upgrade and improve the City's water system, including water lines and fire hydrants, along E. Viola Ave. and between N. 41st Ave. and N 42nd Ave. The Public Works Trust Fund Loan PC20-96103-044 is in an amount  of $1,740,000.  The terms of the loan include an interest rate of 1.58% with a 20-year pay back.  The Public Works Board Construction Loan Contract is attached for City Council review.   
ITEM BUDGETED:NA
STRATEGIC PRIORITY:Public Trust and Accountability
STAFF RECOMMENDATION:
Adopt Resolution
BOARD/COMMITTEE RECOMMENDATION:
ATTACHMENTS:
DescriptionUpload DateType
Resolution11/15/2019Resolution
Contract9/24/2019Contract