Agenda - 05-30-2013 - 2 - Laserfiche WebLink

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Water & Sewer Utilities Capital Projects Fiscal Years 2013 -18 Project Name Central Efland /North Buckhorn Sewer Expansion Project Status Approved Functional Service Area Community and Environment Starting Date 7/1/2010 Department Planning Completion Date 613012013 Current Year 1 Year 2 Year 3 Year 4 Year 5 Five Year 6 Prior Years Fiscal Year I Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Year to Project Budget Funding 2012 -13 2013 -14 2014 -15 2015 -16 2016 -17 2017 -18 Total Year 10 Professional Services Land /Building Construction/Repairs/Renovations EquipmenbFumishings Total Project Budget General Fund Related Operating Costs Personnel Services Operations New Debt Service Total Operating Costs Revenues/Funding Source Transfers from General Fund General Fund - Debt Service Payments EPA Special Appropriations Grant State Revolving Loan Funds Debt Financing Total 34,000 59,900 3,700,000 148.798 148.798 148.798 148.798 148.798 743.9901 743.990 93,601 - - 148,798 148,798 148,798 148,798 148,798 743,990 743,990 1,348,400 - 2,351,899 - In the mid- 1980s, the decision was made to construct public sewer service in the Efland Community. The County's funding ran out before the entire community could be served, but there were approximately 80 residents remaining who had signed up to receive sewer and never did. The Central Efland portion of this project will provide sewer service availability to the majority of those properties that requested service 25 years ago, in addition to providing sewer availability to most of the rest of the Efland Community. The Northern Buckhorn project will be an extension of the City of Mebane's sewer system and will serve residents in the area along Buckhorn Road between the Interstate and the railroad tracks. This portion of the project is made possible by EPA Special Appropriations Grants that were earmarked by Congressman David Price and applied for by the County. The vast majority of the Central Efland project will be paid for by the remainder of the EPA grant and by a DENR State Revolving Loan Fund. An estimate of the debt service is shown above, based on an estimated loan amount of $2,351,899 an interest rate of 2.445% and the maximum term of 20 years. The full loan amount of $3,500,000 is a maximum line of credit and was based on the original project cost estimates, but based on the project bids and current costs, the loan is expected to be less than $2,400,000, as shown above. The debt service payments will be based on the actual amount borrowed. Some project expenses are not reimbursable by the State Loan program or the EPA grant. These have been paid from Capital Project 30017 from proceeds of the 1997 bond issued to pay for the Central Efland Sewer Extension Ais]