Orange County NC Website
Browse       Search
9 <br /> 1 We are pleased to submit this report on our service, projects, and initiatives since November <br /> 2 2019. This report includes information on the following items: <br /> 3 1. Key System Resiliency Improvements <br /> 4 2. Executive Director Transition Update <br /> 5 3. New Revenue Bonds <br /> 6 4. PFAS Monitoring Update <br /> 7 5. Care to Share Day <br /> 8 6. Youth Water Academy <br /> 9 7. Infrastructure Investments <br /> 10 <br /> 11 Key System Resiliency Improvements: <br /> 12 OWASA has completed key portions of several major projects to improve resiliency throughout <br /> 13 the community's water and wastewater system. This quarter, significant progress was made on <br /> 14 projects at the Jones Ferry Water Treatment Plant (WTP): <br /> 15 <br /> 16 Design work has been completed to simplify and increase resiliency of a complex piping <br /> 17 network around the WTP. We expect to award a construction contract for the project in <br /> 18 March and estimate construction will run from summer 2020 through summer 2021. This <br /> 19 project was taken up following the November 2018 water emergency. <br /> 20 <br /> 21 The design process has also been completed for a project at the WTP to replace aging <br /> 22 bulk chemical storage tanks, a safety containment area, and chemical system feed <br /> 23 pumps. <br /> 24 <br /> 25 Preliminary work is underway to convert the remainder of the WTP's electrical <br /> 26 distribution system to an updated voltage standard and provide automatic transfer <br /> 27 capabilities for on-site generators during power outages. <br /> 28 <br /> 29 Overall, OWASA has invested nearly $3 million this quarter in design and construction work <br /> 30 improving the water distribution system resiliency. OWASA Quarterly Report January 16, 2020 <br /> 31 <br /> 32 Executive Director Transition Update: <br /> 33 OWASA's Board of Directors is working with Slavin Management Consultants to recruit <br /> 34 OWASA's next Executive Director. That finial hiring decision is expected by late April or early <br /> 35 May 2020. <br /> 36 <br /> 37 New Revenue Bonds: <br /> 38 OWASA issued revenue bonds totaling $18.6 million. The bond terms include a 2.7% interest <br /> 39 rate over 25 years. OWASA continues to be rated highly by all three credit rating agencies: <br /> 40 S&P (AAA), Fitch (AA+), and Moody's (Aa1). The governance of our organization, as well as <br /> 41 the stability of the community's economy (anchored by UNC) plays a large part in our high <br /> 42 rating. <br /> 43 OWASA has refinanced for better interest rates over the years— resulting in cost savings for <br /> 44 customers — but this is the first instance of raising funds through revenue bonds since 2006. <br /> 45 Proceeds will be used to fund Capital Improvement Projects. <br /> 46 <br /> 47 PFAS Monitoring Update: <br /> 48 OWASA's treated drinking water remains safe and meets all current Federal and State <br /> 49 regulations and health advisories and treated wastewater remains safe for the environment. <br />