Item A2 � A.2
� � �, BOARD OF COUNTY COMMISSIONERS
County of Monroe � ��r�i
�r � s�� Mayor Heather Carruthers,District 3
The Florida.Keys Mayor Pro Tem Michelle Coldiron,District 2
Craig Cates,District 1
David Rice,District 4
Sylvia J.Murphy,District 5
County Commission Meeting
April 30, 2020
Agenda Item Number: A.2
Agenda Item Summary #6866
BULK ITEM: Yes DEPARTMENT: Assistant County Administrator Kevin
Wilson
TIME APPROXIMATE: STAFF CONTACT: Kevin Wilson (305) 292-4441
No
AGENDA ITEM WORDING: Ratification of County Staffs request to defer repayment of Cudjoe
regional wastewater state revolving fund (SRF) loan.
ITEM BACKGROUND: County staff requested that the Florida Department of Environmental
Protection (FDEP) approve deferral of repayments for the SRF loan for the Cudjoe regional
wastewater project. The semiannual repayments are approximately $4.5 million. The next
repayment is scheduled for June 2020.
PREVIOUS RELEVANT BOCC ACTION: From 2012 through 2018 the BOCC approved
applications for and FDEP disbursed a total of$127.3 million for construction of the Cudjoe regional
wastewater system.
CONTRACT/AGREEMENT CHANGES:
No
STAFF RECOMMENDATION: Approval
DOCUMENTATION:
2020-04-22 FDEP deferral ltr
FINANCIAL IMPACT:
Effective Date: immediately
Expiration Date: N/A
Total Dollar Value of Contract: N/A
Total Cost to County: N/A
Current Year Portion: approximately -$4.5 million
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A.2
Budgeted: N/A
Source of Funds:
CPI: N/A
Indirect Costs: N/A
Estimated Ongoing Costs Not Included in above dollar amounts:
Revenue Producing: N/A If yes, amount:
Grant:
County Match:
Insurance Required:
Additional Details: N/A
defers payments of approximately $4.5 million
REVIEWED BY:
Kevin Wilson Completed 04/27/2020 1:00 PM
Bob Shillinger Skipped 04/27/2020 12:59 PM
Purchasing Skipped 04/27/2020 12:59 PM
Budget and Finance Skipped 04/27/2020 12:59 PM
Maria Slavik Skipped 04/27/2020 12:59 PM
Kathy Peters Completed 04/27/2020 1:38 PM
Board of County Commissioners Pending 04/30/2020 11:00 AM
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A.2.a
` � BOARD OF COUNTY COMMISSIONERS
IL'ounty of Monroe �€ ��°�� '� s� Mayor Heather Carruthers,District 3
The Florida Keys Mayor Pro Tern Michelle Coldiron,District 2
.: Craig Cates,District 1
i49
David Rice,District 4
Sylvia J.Murphy,District 5
22 April 2020
Via electronic mail
Mr. Timothy Banks,Program Administrator
Clean Water State Revolving Fund Program
Division of Water Restoration Assistance
3900 Commonwealth Blvd. MS 3505
Tallahassee,Florida 32399-3000 N
SUBJECT: Request for Deferral of Payments on SRF loan WW440710 CL
Monroe County requests that the Department approve a six(6)month deferral of its semiannual payments for
the State Revolving Fund(SRF)loan for the Cudjoe Regional Wastewater system. °?
0
During the COVID-19 pandemic response,cash flow is a major concern of local governments. In Monroe
County,the primary industry is tourism. In late March,the County closed all hotels and tourist related
businesses. Shortly thereafter,the County established procedures to discourage any travel to the County by
other than residents,property owners, and workers in essential businesses. This resulted in an immediate76
=
reduction of more than 95%in hotel and vacation rental occupancy.
m
Visitors pay more than sixty percent(60%)of the County's infrastructure sales surtax. The hospitality
CL
industry is the largest employer of County residents. Consequently,we expect a reduction in the sales surtax
revenue associated with a shift in their purchasing habits away from sales taxable goods into groceries and u-
other non-taxable items. The County's revenue in recent years from this surtax has been approximately$2 N
N
million/month. This is the revenue upon which the County relies to repay the SRF loan. To be clear,the ,
County budgeted sufficient funds in its FY20 for the payments. The remaining surtax funds are committed to N
other contractually obligated projects planned before the pandemic.
The county respectfully requests deferral of the semiannual payments of six months during which time we
assume interest accrual would continue. We further assume a modified loan agreement with the additional
interest and a new payment schedule reflecting a six month deferral is required. With approval,we will have
the amended agreement executed and returned for the State's execution. If you have questions,please direct
them to me.
I,e in G. Wilson,P.E.
Assistant County Administrator
Cc: Ms.Trina Vielhauer,Director,Division of Water Restoration Assistance
Ms.Angela Knecht,Program Administrator, State Revolving Fund Management
Ms.Tina Boan,Director,Monroe County Office of Management and Budget
1100 Simonton Street tel: 305-453-8788
Key West, FL 33040 fax: 305-295-4321
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