On October 8, 2018, the City Commission authorized the City's Financial Services Director to submit a Drinking Water Facilities State Revolving Fund (SRF) loan application to obtain funding for the construction of the Per-Fluorinated Chemical Treatment System at the City's Water Treatment Facility. The SRF loan application was submitted to the Florida Department of Environmental Protection (FDEP) on October 17, 2018.
FDEP subsequently sent the City a proposed loan agreement on December 7, 2018. The principal amount of the loan is $2,035,244.00, which includes $372,841.00 of principal forgiveness and $4,700.00 of capitalized interest. In addition, a loan service fee is estimated at $40,611.00 for the loan amount authorized to date. This fee represents two percent of the loan amount excluding principal forgiveness and capitalized interest.
Please note on June 26, 2017 the City retained the law firms of Weitz & Luxenberg and Morgan & Morgan to recover compensatory damages arising from per-fluorinated compound contamination of groundwater and drinking water supply wells. The Complaint was filed with the United States District Court for the Southern District of Florida on October 18, 2018.