Public Hearing: YES ? NO ? Department: Finance
SUBJECT:
Title
Commission District(s): All Commission Districts
Appropriation of $7,400,000 from the Special Purpose Local Option Sales Tax (SPLOST II; approx. $2.5mm from Parks & Recreation - C1 and approx. $4.9mm from Water & Sewer and/or Stormwater - D1) to meet the U.S. Army Corps of Engineers (USACE) Corps Water Infrastructure Financing Program Loan (CWIFP) match requirement for dam repair and rehabilitation.
Body
Information Contact: Dianne McNabb, Chief Financial Officer & Robert Atkins, Treasurer
Phone Number: (404) 304-4736 & (678)-910-5638
PURPOSE:
To appropriate $7,400,000 from the Special Purpose Local Option Sales Tax (SPLOST II; approx. $2.5mm from Parks & Recreation - C1 and approx. $4.9mm from Water & Sewer and/or Stormwater - D1) to meet the U.S. Army Corps of Engineers (USACE) Corps Water Infrastructure Financing Program Loan (CWIFP) match requirement for dam repair and rehabilitation.
CWIFP is a credit assistance program, authorized by the U.S. Army Corps of Engineers (USACE), that provides direct loans to non-Federal entities for dam safety and levee projects, analogous to the Water Infrastructure Finance and Authorization Act (WIFIA), which is authorized by the EPA. The program enables critical local infrastructure investments to improve public safety. CWIFP provides significant financial savings to local taxpayers while leveraging minimal federal investment and risk.
In September of 2024, USACE notified the County that our project Letter of Interest had been selected to submit a full application. The CWIFP will cover 80% of the County's Project Rehabilitation and Improvement Project (DRIP) cost and the County is responsible for the remaining 20%. DRIP will repair and upgrade 12 of the County's Category 1 and 2 dams. The total cost is $37,000,010, the loan amount is $29,525,597, and the County obligation is $7,400,000....
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