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BUDGET/TIME IMPLICATIONS: <br /> Budget Impact: The proposed authorizations are for the following expenditures all of which are <br /> to be reimbursed by the Water Pollution Control Loan Program: <br /> 1. The proposed loan agreement authorizes the City to borrow up to $2,608,700 from the <br /> Water Pollution Control Loan Program. If the loan is for the full amount shown, the <br /> repayment will be approximately$158,800 per year, paid semiannually over the 20 <br /> year life of the loan. The loan repayment was anticipated in the Sewer User Fee <br /> increase that was approved by the City Council in 2011. <br /> 2. The Engineering Services Agreement between the City and BGM to provide <br /> construction engineering and resident inspection services for the rehabilitation of the <br /> Lake Shore Drive Sewer is for a fee not to exceed $204,000. This fee will be <br /> reimbursed through the loan. <br /> All expenditures and the loan repayment are to be through the Sewer Fund and are included in <br /> the proposed budget. <br /> Staffmg Impact: Staff time has been allocated in the budget for this project. <br /> POTENTIAL OBJECTIONS: There are no known objections to these resolutions. <br /> INPUT FROM OTHER SOURCES: Bainbridge, Gee, Milanski &Associates, Inc., and <br /> Illinois Environmental Protection Agency <br /> STAFF REFERENCE: Richard Marley, Public Works Director and Matt Newell, City <br /> Engineer. Richard Marley will be in attendance at the City Council meeting to answer any <br /> questions of the Council on this item. <br /> This memorandum was prepared by Mary Cave, P.E., Civil Engineer II. <br /> Attach: 3 <br /> Page 6 <br />