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DEPARTMENT OF WATER MANAGEMENT <br /> Memorandum No. 2011-06 <br /> March 31, 2011 <br /> TO: Honorable Mayor Michael T. McElroy and City Council <br /> FROM: Ryan P. McCrady, City Manager <br /> Keith D. Alexander, Director of Water Management <br /> SUBJECT: USEPA Grant Agreement for M. L. King Jr. Drive Water Main Project <br /> City Project 2003-23 <br /> SUMMARY RECOMMENDATION: <br /> Council adopt the attached Resolution authorizing the City Manager to sign a USEPA Grant <br /> Agreement for$242,000. <br /> BACKGROUND: <br /> In 2009 U.S. Senator Richard Durbin obtained USEPA funding for the City's M. L. King Jr. <br /> Drive Water Main Project. This agreement is the formal document accepting this funding. <br /> POTENTIAL OBJECTION: <br /> None foreseen. <br /> BUDGET/TIME IMPLICATIONS: <br /> This agreement will reduce the cost of the approximately $6,400,000 water main project by <br /> $242,000. Twenty five percent of the project's costs are being provided by American Recovery <br /> and Reinvestment Act funds and seventy five percent is being financed by an Illinois Water <br /> Revolving Fund loan at 0% for 20 years. <br />