HomeMy WebLinkAboutA060 - Email from Finance Director dated November 27, 2011 Duane R Pitcher/COA To josten.robert@dorsey.com
11/27/2011 10:33 PM cc Diane R Voss/COA@COA
bcc
Subject Public Hearing for Drinking Water SRF Loan
Bob,
We are preparing to enter into an agreement for our Drinking Water SRF Planning and Design loan and
would like to proceed with the public hearing as early as the December 13, 2011 City Council meeting.
We are also have a construction loan on the DNR intended use plan and are wondering if we should do
both public hearings at the same time. I would think that if we are asking for a commitment for a large
P&D loan we should have a commitment for the P&D loan also. Information on the SRF loans are as
follows:
Planning and Design: PD-DW-10-23 $11,425,000 Planning and Design for new water plant
Construction: FS-85-10-DWSRF-046 $49,471,000 New 15 million gallon per day lime softening plant.
Also we were wondering if the placement on the intended use plan constitutes any sort of commitment to
fund by the state, or is it just dependent on funds availability and priority. We have some concerns that a
$50 million project would be much more expensive if we need to fund all or part with revenue bonds.
Please give me a call if you would like to discuss.
Thanks,
Duane
Duane Pitcher, CPA, CPFO
Director of Finance
City of Ames
515 Clark Avenue
P.O. Box 811
Ames, Iowa 50010
Phone (515) 239-5114
<Josten.Robert@dorsey.com> To <DPitcher@city.ames.ia.us>
cc <DVoss@city.ames.ia.us>
,4 11/28/2011 08:40 AM bcc
Subject RE: Public Hearing for Drinking Water SRF Loan
Duane, our file shows that, in December, 2009, the Ames Council approved a Plan and Design Loan in
the amount of$6,249,000, but the file also shows that Loan was never closed. Is that accurate? Is the
proposed $11,425,000 P&D loan an additional amount, or an increase from the original figure?
Robert E.Josten
Partner
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801 Grand Suite 3900
Des Moines, IA 50309-2790
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From: Duane R Pitcher [mailto:DPitcher@city.ames.ia.us]
Sent: Sunday, November 27, 2011 10:34 PM
To: Josten, Robert
Cc: Diane R Voss
Subject: Public Hearing for Drinking Water SRF Loan
Bob,
We are preparing to enter into an agreement for our Drinking Water SRF Planning and
Design loan and would like to proceed with the public hearing as early as the December 13,
2011 City Council meeting. We are also have a construction loan on the DNR intended use
plan and are wondering if we should do both public hearings at the same time. I would
think that if we are asking for a commitment for a large P&D loan we should have a
commitment for the P&D loan also. Information on the SRF loans are as follows:
Planning and Design: PD-DW-10-23 $11,425,000 Planning and Design for new water plant
Construction: FS-85-10-DWSRF-046 $49,471,000 New 15 million gallon per day lime
softening plant.
Also we were wondering if the placement on the intended use plan constitutes any sort of
commitment to fund by the state, or is it just dependent on funds availability and priority.
We have some concerns that a $50 million project would be much more expensive if we
need to fund all or part with revenue bonds.
Please give me a call if you would like to discuss.
Thanks,