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BACKGROUND <br />1975: Belmont, Redwood City, San Carlos and West Bay Sanitary District <br />formed JPA: Silicon Valley Clean Water (SVCW) <br />City funding share aligned with share of plant capacity <br />Regional Environmental Sewer Conveyance Upgrade (RESCU) project will <br />rehabilitate pump stations, plant facility, and the new gravity pipeline to <br />ensure safe operations <br />SVCW is updating RESCU funding to save money for cities and ratepayers <br />November 2020 -new SRF Loan will save SVCW an estimated $1.2 million <br />annually, about $570,000 per year for Redwood City, or $4.5 million in net <br />present value savings. <br />2014 and 2015 outstanding SVCW bonds to be refunded (refinanced); will <br />save SVCW an estimated $8.5 million, and Redwood City an estimated <br />$278,000 per year ($4.5 million total) <br />Aft <br />Redwood <br />City <br />