for water, wastewater and stormwater portions; spoke on interest rates for SRF loans
and grant loan requirements; provided an example of project funding sources, savings if
able to go the SRF route.
Mayor Wilkinson questioned likelihood of receiving SRF loans; Mr. Laflin and Ms.
Lancaster believe we would have a good chance.
Mr. Jennings questioned timeline once on the inclusion list; Mr. Laflin believes a few
months.
Ms. Lancaster spoke on funds for repair of systems will be available.
Commissioner Kelly questioned timeline; Mr. Laflin believes it will be months not years
process; Ms. Lancaster concurred it's not know for sure, but getting on the list as soon as
possible.
Mr. Laflin continued presentation by discussing annual debt service comparison; grant
funding preferable; if funded with debt, aggregate debt service number examples
provided, reduces as old debt pays down; believes the four top projects are feasible;
beyond would require additional review and funding; spoke on example impact on
capital improvement program; initial strategy to execute; importance of looking at
long-term impact.
Commissioner Kelly questioned a timeline for Barbara Circle project; Ms. Lancaster
stated about a year for actual construction; Commissioner Kelly questioned phase II and
III; Ms. Lancaster provided comment, recommendation is moving forward with phase III
first with traffic diversion, should be complete within a year; Commissioner Kelly spoke
on upcoming hurricane season, questioned how time frame with a bank loan could be
obtained; Mr. Laflin addressed, stated more analysis would be needed based on timing
of expenditures, line of credit could be a short term borrowing option, combination for
loan and SRF. Commissioner Kelly spoke on moving forward as soon as possible and
getting the loan options soon.
Ms. Lancaster stated there will be more finite information next month; Finance and
Infrastructure boards voted to obtain financing for projects.
Commissioner Jennings would like to start phase III as soon as possible; not in favor of
waiting to merge with phase II; spoke on knowing about and getting on the list for SRF.
Olga Swinson stated SRF can only be used for certain portions.
Mr. Laflin spoke on time sensitivity of projects and moving fast with application process
of SRF as most prudent option.
Commissioner Jennings questioned starting as soon as possible without waiting on
SRF; Ms. Lancaster stated financial advisor is looking at options now and should have
recommendations next month; county is paying for a portion of sewer.
Mr. Laflin spoke on operational items that will be prepared for next month; new ERP is
being implemented; staff submitting budget items; preliminary property tax values
coming in.
TOWN MANAGER'S REPORT
Ms. Lancaster stated the claw truck donated by the Routh and J. O. Stone foundation
has arrived; building permit update, 234 active 16 under review and 23 awaiting
payment; thanked Ashley Bernal and Bryan Doyle for keeping department running and
Maria who is the new tech; gym floor repairs complete and will be ready for summer
camp; new trees in Pinellas Park, team looking into drainage infrastructure around