Commissioners Court - Special Meeting

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AI-6255 4.B.2.       
Meeting Date: 04/28/2015  
Loan Forgiveness Agreement with TWDB
Submitted By: Natalie Eckstrom, Grants Department
Department: Grants Department  

Discuss and consider the execution of a Loan Forgiveness Agreement with the Texas Water Development Board regarding funding for the Cindy Park colonia.
The Texas Water Development Board (TWDB) administers loan and grant programs that provide for the planning, acquisition, design, and construction of water related infrastructure and other water quality improvements.
On July 23, 2014, the Commissioners Court adopted a resolution authorizing the submission of an Application for Financial Assistance for Water and Wastewater Infrastructure Construction to TWDB. Nueces County’s application for funding was approved. Under this project, planning and design for a new water distribution system in the Cindy Park colonia will be completed.

The funding is being provided as 100% loan forgiveness in the amount of $200,000. Before the loan forgiveness can be closed and the funds delivered, the County must execute a loan forgiveness agreement to accept certain contractual obligations.

Budget Information
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Budgeted: Funds Available: Adjustment: Amount Available:
Unbudgeted: Funds NOT Available: Amendment:
Account Code(s) for Available Funds
Fund Transfers
Loan Forgiveness Agreement with TWDB


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