C7R - Increase State Revolving Loan for Water System

A Resolution Of The Mayor And City Commission Of The City Of Miami Beach, Florida, Amending Resolution No. 2023-32849, That Authorized The City Manager Or Designee To Apply For Funding, Accept Funding, And Appropriate Funding Received By The City, In Connection With The state Of Florida Department Of Environmental Protection (department) State Revolving Loan Program For Drinking Water Facilities (program), in The Approximate Amount Of $2,941,000.00, Of Which 49% Would Be Forgivable And 51% Would Be Repayable By The City Pursuant To A Loan Agreement With The Department; And Further Authorized The City Manager To Finalize And Execute Any And All Documents Or Agreements Required To Secure These Program Funds, Subject To Review And Approval By The City Attorney; Said Amendment To The Resolution Increasing The Total Allocation Of The Program Funds By 10% ($294,100.00), To A Total Amount Of $3,235,100.00, Of Which 49% ($1,585,199.00) Would Be Forgivable And 51% ($1,649,901.00) Would Be Repayable; And Further Granting The City Manager Or Designee The Authority To: (1) Apply For, Accept, And Appropriate Additional Program Funds, As May Become Available From The State, And (2) Allocate The Program Funds, Toward The Planning, Design And/or Construction Costs Of The City’s Public Water System Project, As Needed.