Amador County - The Amador Water Agency Board of Directors approved a contract for the Plymouth Water Pipeline Project yesterday afternoon and also approved the financing to get the project started. The board voted 5-0 to authorize General Manager Jim Abercrombie to execute a notice of an award for construction of the project, pending approval of the contract and project by the Plymouth City Council later last night. Results of Plymouth City Council’s decision were unavailable at press time this morning, but should be available in the noon report. The AWA board also voted to amend the agreement to note financial obligations. Finance Manager Mike Lee broke down costs, noting Plymouth would pay a 1.34-Million-Dollar participation fee to the AWA, and receive 200,000 dollars in reimbursement from the USDA for the reservoir project, a Community Development Block Grant of 874,000 dollars and 4.25 Million Dollars in federal USDA grants. Plymouth’s consultants, however, said Wednesday that another 1.25 Million Dollars in grants had been attained, for 5.1 million dollars in grants. The city will also get 5 million dollars in USDA loans. Lee said the breakdown formula had Plymouth paying 74.5 percent of the total actual project costs and the AWA paying 25.49 percent. Easement costs of the various project segments came out with Plymouth paying 5.79 Million Dollars and the AWA paying 1.9 Million Dollars. Loan attorney Jim Boyd introduced two documents for separate USDA loans of 3 million dollars and 2 million dollars each, which the board approved as the AWA Financing Authority. Lee said the AWA will pay 800,000 dollars at the outset of the project, using reserve funds. District 1 Board Member Elect Bill Condrashoff asked why that was paid up front. Abercrombie said the amount could have been financed, but the payment up front avoided financing fees. Lee said in the long run, the agency would benefit more from Plymouth water payments over 40 years in the contract than the 800,000 dollars would earn in the bank at 4-and-1/8 percent interest. The four new board members elect all attended the meeting, during which the sitting members elected District 5 Board Member Terence W. Moore as the new board president. The other four board members, Condrashoff, District 2’s Gary E. Thomas, District 3’s Don Cooper and District 4’s Debbie Dunn likely could take the oath of office in the first week of December. The election results must be certified by Registrar of Voters Sheldon Johnson, and then the Amador County Board of Supervisors must also certify the results before elected politicians can take office. Story by Jim Reece
Thursday, 13 November 2008 23:57
Amador Water Agency Approves Pipeline Contract
Amador County - The Amador Water Agency Board of Directors approved a contract for the Plymouth Water Pipeline Project yesterday afternoon and also approved the financing to get the project started. The board voted 5-0 to authorize General Manager Jim Abercrombie to execute a notice of an award for construction of the project, pending approval of the contract and project by the Plymouth City Council later last night. Results of Plymouth City Council’s decision were unavailable at press time this morning, but should be available in the noon report. The AWA board also voted to amend the agreement to note financial obligations. Finance Manager Mike Lee broke down costs, noting Plymouth would pay a 1.34-Million-Dollar participation fee to the AWA, and receive 200,000 dollars in reimbursement from the USDA for the reservoir project, a Community Development Block Grant of 874,000 dollars and 4.25 Million Dollars in federal USDA grants. Plymouth’s consultants, however, said Wednesday that another 1.25 Million Dollars in grants had been attained, for 5.1 million dollars in grants. The city will also get 5 million dollars in USDA loans. Lee said the breakdown formula had Plymouth paying 74.5 percent of the total actual project costs and the AWA paying 25.49 percent. Easement costs of the various project segments came out with Plymouth paying 5.79 Million Dollars and the AWA paying 1.9 Million Dollars. Loan attorney Jim Boyd introduced two documents for separate USDA loans of 3 million dollars and 2 million dollars each, which the board approved as the AWA Financing Authority. Lee said the AWA will pay 800,000 dollars at the outset of the project, using reserve funds. District 1 Board Member Elect Bill Condrashoff asked why that was paid up front. Abercrombie said the amount could have been financed, but the payment up front avoided financing fees. Lee said in the long run, the agency would benefit more from Plymouth water payments over 40 years in the contract than the 800,000 dollars would earn in the bank at 4-and-1/8 percent interest. The four new board members elect all attended the meeting, during which the sitting members elected District 5 Board Member Terence W. Moore as the new board president. The other four board members, Condrashoff, District 2’s Gary E. Thomas, District 3’s Don Cooper and District 4’s Debbie Dunn likely could take the oath of office in the first week of December. The election results must be certified by Registrar of Voters Sheldon Johnson, and then the Amador County Board of Supervisors must also certify the results before elected politicians can take office. Story by Jim Reece
