11/18/2019 BOARD OF SELECTMEN Agenda Packet

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*DRAFT SELECTMEN MINUTES 10-28-2019* 4 Board of Selectmen Minutes October 28, 2019 Presentation on Selection and Finance Process for State Revolving Fund: Nate Keenan—Mass Clean Water Trust-, Maria Pinaud—Mass DEP• (continued) With contracts appropriated, a town may proceed to construction and conceptually start within 6 months of approval. Towns and cities receiving multiple-year funding include Eastham$80 in. Springfield and Fall River. In June of each year, the MassDEP sends out a solicitation to each city, town and public water supplier in the State requesting project applications. The received applications are ranked and placed. The most compelling environmental and public health problems with most effective solutions are prioritized. The highest priorities gain the highest points. Ranking is based on the following criteria; What is the cause of the environmental/public health problem? What areas are affected?Any critical environmental receptors? How effectively will the project eliminate or mitigate the problem? Is the project consistent with MassDEP watershed management plans and priorities? Does the project include elements that provide energy efficiencies or on-site renewable energy generation? Consistent with the Cape Cod 208 Plan. Local authorization is general obligation pledged as a security requiring authorization to borrow. It is required to complete the loan application. Local authorization must be voted by June 30, 2020 following the release of the Intended Use Plan(IUP). The appropriation requires the entire cost of the project both SRF eligible and non-eligible costs, construction management fees, police details and inflation. The Town of Mashpee Wastewater Plan outlines (5) major phases over the planning period. The treatment plant/collection system in Phase I could be reviewed as an isolated project. However, it is important to include the final intent of the project that is successful in the end within the SRF submission. In the approval process, a project,certificate is submitted to the respective town or city to certify the authorization of borrowing. Instructions are contained within the packet of information to ensure compliance with tax regulations. This includes debt service schedules, level principal and level service options. There are no hidden fees. Within six months after the submission of Mass DEP approval, the community may advertise for construction bids. Items not eligible for SRF funding will be detailed. Loan agreements are sent to the Treasurer for execution. It is easier to go through SRF vs. the use of a Bond Anticipation Note (BAN). The permanent financing would be confirmed multiple times to ensure accuracy. The amount of the loan can be reduced, with a new debt scheduled issued for payment of the actual amount required, principal and interest only. With commitment the IUP generally funds a project until it is completed. This would include the funding of unexpected costs. With different administrations, the project would continue.