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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 m the Illinois <br /> Water Pollution Control Loan Program is one of the final steps in securing I-EPA low interest <br /> loan. The loan rate is expected to be 1.93%. The ordinance addresses the fu ding for the project <br /> 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 $390,471 <br /> Construction $9,700,000 <br /> Construction Contingency $970,000 <br /> Construction Engineering $550,000 <br /> Total Estimated Project Cost $11,610,471 <br /> Total Loan Requested $11,700,000 <br /> As is common with the Water Pollution Control Loan Program, the actual lom 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 I-EPA. At that point, the agreement authorized by the attached ordinance will <br /> be signed by the City Manager and the loan activated. The contractor will th n be given a notice <br /> to proceed. <br /> Construction Engineering Services <br /> The I-EPA requires that the projects being supported by the Water Pollution ontrol Loan <br /> Program be provided with project oversight by qualified resident engineers tl at are familiar with <br /> sewer rehabilitation work. BGM is very familiar with the rehabilitation processes proposed for <br /> the Lake Shore Drive Sewer Rehabilitation Project. Under contract with the ity, they <br /> completed the Facilities Plan that identified the work to be done, along with I he preliminary and <br /> final designs for the project. 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 pr gram regulations. <br /> Page 3 <br />