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ai <br /> • EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET <br /> PROJECT TITLE: <br /> - 2005 Public Works Trust Fund Consent COUNCIL BILL# <br /> Construction Loan Application for Action Originating Department Public Works <br /> Clearwell No.2 at the Everett Water First Reading Contact Person Tom Thetford <br /> Filtration Plant Second Reading Phone Number 425 257-8800 <br /> Third Reading FOR AGENDA OF April 7, 2004 <br /> Public Hearing <br /> Initialed by: <br /> Department Head <br /> CAA <br /> Council President <br /> Location Preceding Action Attachments Department(s) Approval <br /> Council approval of this agenda item authorizes a budget revision in the additional amount requested. <br /> Expenditure Required $ -0- - Account Number(s): <br /> Amount Budgeted $ -0- <br /> Additional Required $ -0- <br /> DETAILED SUMMARY STATEMENT: <br /> The Public Works Department is submitting an application to the Washington State Public Works Board for <br /> a Public Works Trust Fund (PWTF) loan. This 2005 application is for the construction of a second 5 million <br /> gallon clearwell at the Everett Water Filtration Plant. The additional clearwell will help fulfull the need for <br /> treatment and storage to meet the projected population growth in the next 50 years, and Department of <br /> Health's water quality requirements. The amount of the loan request is $8,500,000 at 1/2 percent interest rate <br /> and a repayment term of 20 years. The total cost.of the project is estimated at $10,000,000. <br /> RECOMMENDATION (Exact action requested of Council): <br /> Authorize the Mayor to sign the Year 2005 Public Works Trust Fund Construction Loan Application- <br /> Clearwell No. 2 at the Everett Water Filtration Plant. <br /> • <br /> 80 <br />