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Project Funding Through the Water Pollution Control Loan Program <br /> The passage of an ordinance authorizing a loan agreement to borrow funds from the Illinois <br /> Water Pollution Control Loan Program is one of the final steps in securing an IEPA low interest <br /> loan. The loan rate is expected to be 1.995%. The ordinance addresses the funding for the <br /> project and assures that the City is able to repay the loan over a 20 year period beginning at the <br /> conclusion of the project. The funds included in the loan request are summarized below: <br /> Work Item Project Estimate <br /> Design Engineering $198,700 <br /> Construction $2,005,060 <br /> Construction Contingency $200,506 <br /> Construction Engineering $204,000 <br /> Total Estimated Project Cost $2,608,266 <br /> Total Loan Requested $2,608,700 <br /> As is common with the Water Pollution Control Loan Program, the actual loan document will <br /> not be fully written until a contract has been awarded by the City Council and a bid amount is <br /> approved by the IEPA. At that point, the agreement authorized by the attached ordinance will be <br /> signed by the City Manager and the loan activated. The contractor will then be given a notice to <br /> proceed. <br /> Construction Engineering Services <br /> The IEPA requires that the projects being supported by the Water Pollution Control Loan <br /> Program be provided with project oversight by qualified resident engineers that are familiar with <br /> sewer rehabilitation work. BGM is very familiar with the rehabilitation processes proposed for <br /> the Union Street Sewer Rehabilitation Project. They completed the Facilities Plan that identified <br /> the work to be done and then created preliminary and final designs for the project in separate <br /> contracts with the City. Their service as the project managers for this work is crucial. <br /> The professional services agreement with BGM includes the following work items: <br /> 1. Assist the City during the bidding process. <br /> 2. Provide technical job site observation. <br /> 3. Prepare and approve pay estimates, change orders and other records. <br /> 4. Safeguard the City against defects and deficiencies on the part of the Contractor. <br /> 5. Conduct final review of the project and prepare final papers and reports. <br /> 6. Revise contract drawings to reflect field changes. <br /> 7. Review and approve shop drawings and Contractor submittals. <br /> 8. Review and check all reports by testing laboratories. <br /> 9. Assist the City if providing all documentation related to the loan program regulations. <br /> Page4 <br />