DATE: May 15, 2024
TO: Council Budget and Finance Committee
FROM: Director of Finance
SUBJECT
Water Resource Recovery Facility (WRRF) Improvements, Phase II - Project Funding Strategy Update
RECOMMENDATION
That the Committee reviews and comments on the Water Resource Recovery Facility (WRRF) Improvements, Phase II - Project Funding Strategy Update.
SUMMARY
This report provides an update to the CBFC on the funding strategy of the WRRF Improvements - Phase II Project (Phase II Project). The project includes upgrades to the treatment process to enhance the treatment capabilities of the WRRF and to reduce the discharge of nutrients to the bay in compliance with the Regional Water Quality Control Board’s upcoming 3rd Watershed Permit. This project also includes construction of a new Administration Building and Laboratory. The total project cost is estimated to be between $394 and $534M. Staff will provide a review of the financing scenarios in various sources of funding and projecting out the future debt services repayment, cash flow, and sewer rate impacts at the meeting for further discussion.
ATTACHMENTS
Attachment I Staff Report