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Funding Source: <br />The 2023-2032 CIP lists total project costs for all required WTP improvements at $47.6M. This includes costs <br />for both the WTP and the trunk watermain improvements, which will be bid at a later date. Funding was proposed <br />to come from the following: <br />• $ 3 3.6M from sewer and water utility funds <br />• $14M from bonding <br />With the need to write investments down to market value in an amount of approximately $5M, this will decrease <br />the amount of internal funding. So, as of January it was estimated that the sewer & water utility funds will provide <br />about $29M and bonding the rest. The amount of bonding needed will determine how much the sewer and water <br />rates will need to increase. A 10% rate increase was calculated, but this may need to be increased based on final <br />bonding amount. Any funds received from the legislative session will have the direct result of reducing bonding <br />needs and the possible reduction of double-digit utility rate increases. <br />Recommendation: <br />Staff recommends alternative #1. <br />Action: <br />Adopt Resolution #23-032 approving plans and specifications and authorizing advertisements for bids for <br />Improvement Project #21-09, Centralized Water Treatment Plant. <br />Bid Tabulation IP 21-09 <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Brian Hagen Brian Hagen 03/16/2023 03:38 PM <br />Form Started By: Bruce Westby Started On: 03/15/2023 12:13 PM <br />Final Approval Date: 03/16/2023 <br />