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City of North Miami Beach
17011 NE 19 Avenue
North Miami Beach, FL 33162
305-947-7581
www.citynmb.com


MEMORANDUM

 
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TO: Mayor and City Commission
FROM: Esmond K. Scott, City Manager
VIA:

Jafeth Baez, P.E., Director of North Miami Beach

Samuel Zamacona, Deputy Director of North Miami Beach

DATE: Thursday, September 26, 2019
RE: Resolution 2019-83 Approving the form of application for the WIFIA Loan and Authorizing submission of the application to the EPA and the expenditure of a non-refundable fee in the amount of $100,000. - (Jafeth Baez, P.E., Director of NMB Water)
BACKGROUND ANALYSIS:

On July 2018, the City of North Miami Beach (City) with approval of the City Commission submitted a Letter of Interest to the EPA detailing the list of water projects to be considerate for the WIFIA loan Program.

On October 30, 2018, the City was selected to received credit assistance of 49% of the total eligible project cost in connection with the City's Water Capital Improvements Projects.  The total cost of the project is $94,800.000 X 49%= $46,452,000. 

The City is ready to submit the WIFIA Loan application process and a non-refundable application fee of $100,000.

RECOMMENDATION:

We are respectfully requesting authorization for the City Manager or designee to proceed with the required WIFIA Loan Application and a non-refundable application fee to start the loan process.    

FISCAL/BUDGETARY IMPACT:

Water and Sewer Enterprise Fund

 
ATTACHMENTS:
Reso. 2019-83 CNMB WIFIA
Exhibit A - 2019-83 North Miami Beach Water
Exhibit B - R2019-83 WIFIA Program Handbook
DRAFT WIFIA Loan Application