Title
Approving a professional services supplemental agreement with STV, Inc., in the amount of $356,486 to provide WIFIA funding support services, and authorizing the City Manager to execute the same.
Summary
On January 10, 2023, Council approved a Master Services Agreement with CP&Y, Inc., dba STV Infrastructure (STV), to provide funding support services for identifying and pursuing financing opportunities for the City’s water and wastewater Capital Improvement Program (CIP) projects. Through this effort, the Environmental Protection Agency’s (EPA) Water Infrastructure Finance and Innovation Act (WIFIA) program was identified as a recommended funding source.
A WIFIA loan application was submitted to the EPA in November 2023, and a Master Agreement totaling $438 million was executed in October 2024. The first loan tranche, also finalized in October 2024, provided funding for three water projects. The second loan tranche, anticipated to close in November 2025, will fund ten water and wastewater projects. The Master Agreement further allows for the addition of future project tranches through 2029.
STV’s proposed scope of services includes assisting the City in managing funding requirements, reporting, tracking and other for the ongoing first tranche of projects, the upcoming second tranche, and the planning and coordination of future tranches for additional projects.
This initiative supports the fiscal sustainability and robust, resilient infrastructure goals outlined in the City’s Strategic Plan and Comprehensive Plan.
Prior City Council Action
On January 10, 2023, City Council approved a Professional Services Agreement with STV Inc, in the amount of $123,555 for the Funding Support Services project.
On May 28, 2024, City Council approved a Professional Services Supplemental Agreement with STV, Inc. in the amount of $249,811 for the Funding Support Services project.
Deadline for City Council Action
November 12, 2025
Funding Expected: Revenue __ Expen...
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