Public Hearing: YES ? NO ? Department: Public Works - Sanitation
SUBJECT:
Title
Commission District(s): Commission Districts 3 & 6
Seminole Road Landfill Construction - Phase 3 Unit 2 Cell 3N and Unit 4 Cells 4N & 5N
Body
Information Contact: Tracy Hutchinson
Phone Number: (404) 294-2177
PURPOSE:
To propose acceptance of Georgia Environmental Finance Authority (GEFA) Loan GF2022007 in the amount of $6,000,000 and authorize the CEO to execute all necessary documents. The county has submitted a Georgia Environmental Finance Authority (GEFA) loan application for funding to support the construction of three cells (22.5 acres) at the Seminole Road Landfill, of Phase 3 Units 2 & 4, located in Ellenwood, GA (DeKalb County). GEFA notified the County of its approval of the loan application January 23, 2023.
NEED/IMPACT:
The life of the cells is approximately 5 years. The 2.26% low interest loan will lessen the cost of the Seminole Road Landfill Cell Construction PH 3, U 2, Cell 3N and U 4, Cells 4N & 5N project, approved May 24,2022 by the Board of Commissioners (Agenda Item 2022-1540). The project is not to exceed $21,185,943.45.
The loan is part of a long-term strategy to maximize the benefits of leverage with GEFA: low interest rates and spread out a predictable expense.
The Seminole Road Landfill is the only disposal site for municipal solid waste (MSW) in the county and new disposal cells are needed. Cell construction began in 2022 and is estimated to be completed by June 2023.
FISCAL IMPACT:
The closing cost is $75K. Interest accrues on funds drawn during construction. After the spend down, the loan payment will be approximately $106K each month for 5 years.
RECOMMENDATION:
Recommended Action
To approve the acceptance of $6M funding from GEFA under loan GF2022007 to construct three cells at the Seminole Road Landfill, located in Ellenwood, GA (DeKalb County) and authorize the Chief Ex...
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