Title
Discussion of an Application for the GEFA SRF Loan for Automated Metering Infrastructure (AMI) - Guidance
Body
Action Required:
Guidance
Description:
GEFA has recognized the City of Roswell's interest in implementing Automated Metering Infrastructure and has added it as a Tier 1 Green Project under the State Revolving Fund (SRF) program final draft. If approved, the City of Roswell is eligible to receive a $1.5 million loan with $750,000 in principal forgiveness. The loan will need to be paid back from the Water Fund. Annual debt service for the loan will depend on final terms and interest rates, but is estimated at $55,000.
Comments:
Staff recommends submittal of the application to GEFA for the SRF Green Project Loan to implement AMI.
Financial Impact:
Annual debt service for the loan will depend on final terms and interest rates, but is estimated at $55,000, to be paid from the Water Fund.