Agenda Text
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Requesting an appropriation and authorization to borrow $875,000 in a bond to participate in the MWRA's Local Water System Assistance Program.
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Official Text
To the Honorable Board:
I hereby request an appropriation and authorization to borrow $875,000 as part of the City of Somerville’s participation in the Massachusetts Water Resources Authority (MWRA) Local Water System Assistance Program. This borrowing represents an interest-free loan from the MWRA. The loan must be repaid to the MWRA within ten years in ten installments of $87,500.
Under the Local Water System Assistance Program, the City is eligible for total funding of $7,419,000 in interest free loans. This is the City’s second financing under this program, having utilized $682,234 of funding in FY14 towards the Beacon St. Utility Reconstruction Project.
The work covered under this request addresses localized water quality and hydraulic needs, and is scheduled to take place before MWRA replaces both their own and City-owned water mains located on the Webster Avenue Bridge. The project comprises the following work on Webster Avenue: Clean and line 120 feet of 16-inch water main; clean and line 799 feet of 20-inch water main; replace 626 feet of 12-inch water main with 20-inch water main; replace 380 feet of 10- inch water main with 16-inch water main.
Funding will also be used for construction administration and resident engineering services throughout construction.
Respectfully,
Mayor Joseph A. Curtatone