Laserfiche WebLink
8.A. - Page 1 of 73 <br />/<�ik <br />Redwood <br />CitylCallifornia <br />Faunded 1867 <br />\:3aAW <br />DATE: May 20, 2019 <br />SUBJECT <br />STAFF REPORT <br />To the Honorable Mayor and City Council <br />From the City Manager <br />Approval of Silicon Valley Clean Water Joint Powers Agreement Supplement, amendment to the Financing <br />Agreement relating to a Water Infrastructure Finance and Innovation Act Loan Agreement with the United <br />States Environmental Protection Agency, and the 2019 Wastewater Revenue Notes, and all related <br />documents and official actions. <br />RECOMMENDATION <br />Adopt a resolution authorizing execution and delivery of a supplement to the Silicon Valley Clean Water <br />(SVCW) Joint Powers Agreement and an amendment to the Financing Agreement with SVCW relating to <br />a Water Infrastructure Finance and Innovation Act Loan Agreement (WIFIA Loan Agreement) with the <br />United States Environmental Protection Agency (EPA), and 2019 Wastewater Revenue Notes, and <br />approving related documents and official actions. <br />STRATEGIC INITIATIVE <br />Government Operations <br />BACKGROUND <br />Silicon Valley Clean Water (SVCW or the Authority) is a joint exercise of powers authority (JPA) that <br />provides wastewater transmission, treatment, and effluent disposal services to the Cities of Belmont, <br />Redwood City, and San Carlos, and the West Bay Sanitary District (Members). Under the JPA agreement <br />that created the Authority, the Authority owns and operates certain wastewater facilities and the <br />Members are obligated to pay the Authority for their allocable share of the Authority's operating, <br />maintenance, and capital expenses. <br />Since 2008, the Authority has been rebuilding, rehabilitating, and upgrading its wastewater transmission <br />and treatment facilities, which are approaching the end of their useful operating lives. SVCW has <br />frequently updated its capital improvement program (CIP), most recently in October 2018, with the entire <br />program currently estimated to cost approximately $849.7 million from inception to completion. To date, <br />approximately $330.9 million of the CIP has been spent on key projects. The 2019 Notes will fund <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore <br />515 <br />