2024-R-09 - DEP Drinking Water State Revolving Fund Loan RESOLUTION NO.2024-R 09
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF EDGEWATER, FLORIDA,
RELATING TO THE FLORIDA
DEPARTMENT OF ENVIRONMENTAL
PROTECTION DRINKING WATER STATE
REVOLVING FUND LOAN PROGRAM;
MAEINNG FINDINGS; AUTHORIZING THE
LOAN APPLICA'T'ION; AUTHORIZING THE
_._ LOAN AGREEMENT; DESIGNATING AN
AUTHORIZED REPRESENTATIVE;
PROVIDING ASSURANCES; PROVIDING
FOR CONFLICTS, SEVERABILITY, AND AN
EFFECTIVE DATE.
WHEREAS, Florida Statutes provide for loans to local government agencies to finance
booster station resiliency and redundancy upgrades;and
WHEREAS, Florida Administrative Code rules require authorization to apply for loans,
to establish pledged revenues,to designate an authorized representative;to provide assurances of
compliance with loan program requirements;and to enter into a loan agreement;and
WHEREAS, the Drinking Water State Revolving Fund (DWSRF) loan priority list
designates Project No. 64055 (Park Avenue Booster Station Resiliency and Redundancy
Upgrades) as eligible for available funding from the Supplemental Appropriation for Hurricane
Fiona and Ian(SAHFI);and
WHEREAS, the City of Edgewater, Florida, intends to enter into a loan agreement with
the Department of Environmental Protection under the Drinking Water State Revolving Fund for
project financing.
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF EDGEWATER,FLORIDA:
Resolution No.2024R-03
..Y'.
SECTION 1. The foregoing findings are incorporated herein by reference and made a part
hereof.
SECTION 2. The City of Edgewater, Florida is authorized to apply for a loan from the
FDEP's DWSRF in the amount of$3,960,000 to finance the Park Avenue booster station resiliency
- and redundancy upgrades.
SECTION 3. This loan will be one hundred percent principal forgiveness. There will be
no revenues pledged for the repayment of this loan.
- SECTION 4. The City Manager is hereby designated as the authorized representative to
provide the assurances and commitments required by the loan application.
SECTION 5. The Mayor is hereby designated as the authorized representative to execute
the loan agreement which will become a binding obligation in accordance with its terms when
signed by both parties. The Mayor is authorized to represent the City in carrying out the City's
responsibilities under the loan agreement. The Mayor is authorized to delegate responsibility to
appropriate City staff to carry out technical,financial,and administrative activities associated with
the loan agreement.
SECTION 6. The legal authority for borrowing moneys to construct this Project is Section
166.111, Florida Statutes and Section 403.8532,Florida Statutes.
SECTION 7. All resolutions or part of Resolutions in conflict with any of the provisions
of this Resolution are hereby repealed.
Resolution No.2024R-03
SECTION S. If any section or portion of a section of this Resolution proves to be invalid,
unlawful,or unconstitutional,it shall not be held to invalidate or impair the validity,force,or effect
of any other section or part of this Resolution.
SECTION 9. This Resolution shall become effective immediately upon its approval.
Cp U'j T MASSED AND DULY ADOPTED this 1 day o ,2024
Diezel Depew,Mayor
r
Bonnie Zlotnik,tMC,City CIerk
REVIEWED AND APPROVED:
Aaron R. Wolf Ci Attorney
Resolution No.2024-R-03
STATE OF FLORIDA
DEPARTMENT OF ENVIRONMENTAL PROTECTION
STATE REVOLVING LOAN PROGRAM
FOR
DRINKING WATER FACILITIES
LOAN APPLICATION
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Florida Department of Environmental Protection
State Revolving Fund Program
Marjory Stoneman Douglas Building
3900 Commonwealth Boulevard
Tallahassee,FL 32399-3000
Fonn Application DW-1
Incorporated in 62-552.430(I)(a),F.A.C. Effective Date March 9,2022
TABLE OF CONTENTS
Page
Number
LOAN APPLICATION
(1) SUBMITTAL........................................................................................................
..................................
(2) COMPLETING THE APPLICATION................................................................................................... 1
(3) ASSISTANCE........................................................................................................................................ 1
PART I-ADMINISTRATIVE INFORMATION
(1) PROJECT SPONSOR............................................................................................................................. 1
(2) AUTHORIZED REPRESENTATIVE.................................................................................................... 1
(3) PRIMARY CONTACT.......................................................................................................................... 1
(4) ADDITIONAL CONTACTS........................................................................ ................................... 1
(5) PROJECT NUMBER........................................................................................ ................................ 1
(6) IN'T'ERIM FINANCING......................................................................................................................... 1
PART II-PROJECT INFORMATION
A. PRECONSTRUCTION PROJECT
(1) ACTIVITIES --•-------------------------------•-••-•---....--•--•--•--•--........................................._ 2
(2) SCHEDULE............................................................................................................................................ 2
(3) COST...................................................................................................................................................... 2
B. CONSTRUCTION PROJECT
(1) ACTIVITIES .............................................................................................................. 2
(2) SCHEDULE............................................................................................................................................ 3
(3) COST............................•--•-..................--•-------..................--•--.........................................---..............._...... 3
PART III-FINANCIAL INFORMATION
(1) PRINCIPAL--•--•....................•--............----------•--•--.....-•--------•-...............................------------...................... 3
(2) TERMS AND REPAYMENT................................................................................................................ 3
(3) ANNUAL FUNDING LIMIT................................................................................................................. 3
(4) INFORMATION ON LIENS................................................................................................................. 3
(5) ACTUAL AND PROJECTED REVENUES............................................................................I............. 4
(6) AVAILABILITY OF PLEDGED REVENUES..................................................................................... 4
(7) LOAN SERVICE FEE............................................................................................................................ 4
PART IV-AUTHORIZATION AND ASSURANCES
(1) AUTHORIZATION................................................................................................................................ 4
(2) ASSURANCES...................................................................................................................................... 4
PART V-SUPPLEMENTARY INFORMATION
SCHEDULE OF PRIOR AND PARITY LIENS............................................................................................ 7
SCHEDULE OF ACTUAL REVENUES AND DEBT COVERAGE............................................................ 8
SCHEDULE OF PROJECTED REVENUES AND DEBT COVERAGE..............................................I....... 9
LISTOF ATTACHMENTS............................................................................................................................ 10
Form Application DW-1
Incorporated in 62-552.430(1)(a),F.A.C. Effective Date March 9,2022
LOAN APPLICATION
(1) SUBMITTAL. Submit the application and attachments to the Department of Environmental Protection,MS 3505,State
Revolving Fund Program,Marjorie Stoneman Douglas Building,3900 Commonwealth Boulevard,Tallahassee,Florida
32399-3000. The application (and supporting documentation) may be submitted electronically to the Department's
Project Manager.
(2) COMPLETING THE APPLICATION.
(a) This application consists of five parts:(I)ADMINISTRATIVE INFORMATION:(II)PROJECT INFORMATION;(I11)
FINANCIAL INFORMATION; (IV) AUTHORIZATION AND ASSURANCES; and (V) SUPPLEMENTARY
INFORMATION.
(b) All infonnation provided on this application must be printed. Monetary amounts may be rounded.
(c) Forms and attachments to be submitted are denoted with italic print.
(3) ASSISTANCE. Completing this application may require information that can be obtained from the Drinking Water
State Revolving Fund Program staff. Please email SRF_ReportingCdep.state.fl.us for assistance in completing this
application.
PART I-ADMINISTRATIVE INFORMATION
(1) PROJECT SPONSOR City of Edgewater
Federal Employer Identification Number 59-6000314
DUNS Number 782080501 UEI: EYNJW5DQDM57
(2) AUTHORIZED REPRESENTATIVE(person authorized to sign or attest loan documents).
Name Glen Irby Title City Manager
Telephone 386.424.2400 Email girby@eityofedgewater.org
Mailing Address 104 N Riverside Drive Edgewater, FL 32132
(3) PRIMARY CONTACT(person to answer questions regarding this application).
Name Randy Caslow Title Director/City Engineer
Telephone 386.424.2400 ex.4007 Email rcoslow@cityofedgewater.org
Employer City of Edgewater
Mailing Address 409 Mango Tree Drive Edgewater, FL 32132
(4) ADDITIONAL CONTACTS. If more than one additional person is to receive copies of Department correspondence,attach
the information(Attachment##N/A )-
Name Sheryl Parsons Title Funding Practice Leader
Telephone 608.443.0404 Email sheryl.parsons@meadhunt.com
Employer Mead & Hunt
Mailing Address 4401 Eastport Parkway Port Orange, FL 32127
(5) PROJECT\'UMBER(listed on the Department's priority list). 64055
(6) INTERIM FINANCING. A local government project sponsor that has interim financing may be subject to certain
conditions regarding such financing.
Is the project currently being funded with interim financing? El Yes 0 No
Form Application DW-1
Incorporated in 62-552.430(1)(a),F.A.C. Page l of 9 Effective Date March 9,2022
PART II–PROJECT INFORMATION
If you are applying for a planning or design loan for a project that will involve construction,complete only Subpart A below.
If you are applying for a loan to construct a project that is already planned and designed,complete only Subpart B below.
A. PLANNING OR DESIGN PROJECT
Information should be provided for each separate facility to be planned and designed as appropriate. For design/build projects
(not eligible for design loans)or those where multiple facilities,segments,or phases are involved,please attach information
for activities,schedule,and cost for each. (Attachment#2_—)
(1) ACTIVITIES. Attach a brief description of the scope of planning and design activities to be financed by this loan.
Include a list of any engineering services to be performed. (Attachment#2__) Are these activities the same as those
scheduled on the Request for Inclusion Form? ❑■ Yes ❑No. If"No",please explain. (Attachment#NIA
(2) SCHEDULE.
(a) Provide proposed completion dates for the items. (Please call Department staff to discuss time frames needed to complete
required tasks.)
Planning documentation Complete
Engineering design Complete
Certification of site availability 0712024
Permitting Complete
(b) Do you anticipate that an interlocal agreement with another party will be necessary to implement ❑ Yes 0 No
the project? If"Yes",please explain. (Attachment#wA )
(c) Is this a design/build project? 0 Yes ❑ No
(3) COST. Is the cost information submitted for the planning or design loan priority list current? If 0 Yes ❑ No
"No",please explain and submit revised cost information using the appropriate page of the Request
for Inclusion Form. (Attachment#wA) Note that the disbursable amount will be limited to the
priority list amount.
PLANNING OR DESIGN APPLICANTS PROCEED TO PART II1.
B. CONSTRUCTION PROJECT
(1) ACTIVITIES.
(a) Attach a brief description of construction activities to be financed by this loan. Include a list of the contracts (by title)
corresponding to the plans and specifications accepted by the Department(Attachment#3 ).
Are these contracts the same as those scheduled on the Request for Inclusion Form? ❑ Yes ❑ No
If"No",please explain. (Attachment#N1A )
(b) Have any of the contracts been bid? ❑ Yes ❑ No
If"Yes",indicate which contracts have been bid. (Attachment#wA }
(c) Was planning or design for this project financed in another SRF loan? ❑ Yes El No
If"Yes",give the SRF loan number.
(d) Does this project involve an interlocal agreement with other local governments or other entities? ❑ Yes E] No
If"Yes",attach a copy of the interlocal agreement. (Attachment#_T±_)
Is the interlocal agreement fully executed and enforceable? ❑ Yes ❑ No
Form Application DW-I
Incorporated in 62-552.430(I)(a),F.A.C. Page 2 of 9 Effective Date March 9,2022
If"No",please explain(Attachment#NIA },
(2) SCHEDULE. (month and year)
(a) Anticipated notice to proceed for first construction contract. 06/2024
(b) Anticipated completion of all construction contracts. 0312026
(3) COST. Is the cost information submitted for the priority list current? F1 Yes ❑ No
If"No",please explain and submit revised cost information using the appropriate page of the Requestfor Inclusion Form.
(Attachment#_T±_) Note that the disbursable amount will be limited to the priority list amount.
PART III-FINANCIAL INFORMATION
Estimates of the capitalized interest, interest rate, pledged revenue coverage, limitations on annual loan amounts for large
projects,applicability and amount of repayment reserves, amount of the loan service fee and any other information may be
obtained by contacting staff in the State Revolving Fund Management Section.
(1) PRINCIPAL. The requested amount of the loan which does not include capitalized interest is $3,960,000
Note that the disbursable amount will be limited to the priority list amount and must be consistent with the project
information provided under PART II of this application. Also note that the capitalized interest is an inexact estimate,and
it is subject to adjustment by the Department to reflect actual disbursement timing. The principal amount of the loan does
not include the loan service fee.
(2) TERMS AND REPAYMENT.
(a) Loans for planning and design shall be amortized over 10 years.Construction loans to local government project
sponsors are amortized over the lesser of useful life of the project or 20 years unless the project is to serve a small
community qualifying as financially disadvantaged. Construction loans to financially disadvantaged small
communities may be amortized over the lesser of useful life of the project or 30 years.Construction loans to non-
governmental project sponsors are amortized over the lesser of the useful life of the project or 20 years. Interest
charges and principal are paid semiannually. 40
What is the useful life of the project? (years)
Over how many years would you like to amortize the loan? N/A (years)
(b) List all revenues that are to be pledged for repayment of this loan. N/A (100% Principal Forgiveness)
(c) Pledged revenue receipts or collections by the project sponsor must exceed the amount of the repayments due to
the Department unless there are other collateral provisions. The excess revenue, or coverage, generally is 15% of
each repayment.
What coverage is proposed for the loan? NIA % (coverage percentage)
(d) Is any other financial assistance being applied to this project? ❑ Yes [] No
If"Yes",please list. (Attachment#N/A 1
(3) ANNUAL FUNDING LIMIT. Large project funding (generally, loans in excess of$10 million) may be provided in
increments pursuant to the initial loan agreement and subsequent amendments.
(4) INFORMATION ON LIENS.
(a) Describe, if applicable, all debt obligations having a prior or parity lien on the revenues pledged to repay this loan.
(Attachment#±__) For example: City Name,Florida,Water and Sewer System Revenue Bonds,Series 1996,issued
in the amount of$10,000,000,pursuant to Ordinance No.93-104,as amended and supplemented by Ordinance No.96-
156.
(b) Using the Part V,Schedule of Prior and Parity Liens,provide debt service information,if applicable,on each prior and
parity obligation.
Form Application DW-1
Incorporated in 62-552.430(l)(a),F.A.C. Page 3 of 9 Effective Date March 9,2022
(c) For the listed obligations,provide a copy of the ordinance(s),resolution(s),official statement(s),or pages thereof,setting
forth the definitions,use of proceeds, debt service schedule,pledged revenues,rate covenants, provisions for issuing
additional debt,provisions for bond insurance,and debt rating. (Attachment#wA ).
(d) Describe any other notes and loans payable from the revenues pledged to repay this loan.(Attachment#wa
(5) ACTUAL AND PROJECTED REVENUES.
(a) Complete the Part V,Schedule of Actual Revenues and Debt Coverage for the past two fiscal years.
(b) Complete the Part V,Schedule of Projected Revenues and Debt Coverage, demonstrating the availability of pledged
revenues for loan repayment.
(6) AVAILABILITY OF PLEDGED REVENUES. All sources must be supported by a written legal opinion. (Attachment
#±--) The opinion must address the following:
(a) Availability of the revenues to repay the loan.
(b) Right to increase rates at which revenues shall be collected to repay the loan.
(c) Subordination of the pledge if pledged revenues are subject to a prior or parity lien.
(7) LOAN SERVICE FEE. A loan service fee is assessed on each loan.The fee is not part of the loan. The fee along with
interest thereon will be deducted from the first available repayments after the final amendment to the loan agreement.
PART IV—AUTHORIZATION AND ASSURANCES
(1) AUTHORIZATION. Provide an authorizing resolution of the Applicant's governing body or other evidence of
authorization(Attachment#i__)for the following:
(a) Pledging revenues to repay the loan.
(b) Designation of the Authorized Representative(s)to file this application,provide assurances,execute the loan agreement,
and represent the Applicant in carrying out responsibilities(including that of requesting loan disbursements)under the
loan agreement.
(2) ASSURANCES. The Applicant agrees to comply with the laws,rules,regulations,policies and conditions relating to
the loan for this project. Applicants should seek further information from the Drinking Water State Revolving Fund
Program staff as to the applicability of the requirements if the necessity for the assurances is of concern. Specifically,
the Applicant certifies that it has complied, as appropriate, and will comply with the following requirements, as
appropriate,in undertaking the Project:
(a) Assurances for capitalization grant projects.
1. Complete all facilities for which funding has been provided.
2. The Applicant is advised,pursuant to 40 CFR 35 Section 35.3575,that a number of Federal law,executive orders,and
government-wide policies can apply to your project or activity that is receiving Federal financial assistance. The
Applicant agrees to read those provisions regarding the application of Federal cross-cutting authorities(cross-cutters)
to determine their applicability to your specific project or activity.
(b) Assurances for other projects.Please note that Florida Statutes are available at http:llwww.leg.state.fl.us.They are also
available at the following physical address:Florida Department of State Division of Library and Information Services
R.A.Gray Building 500 South Bronough Street Tallahassee,Florida 32399-0250.
1. Chapter 161,Part I,F.S.,"Beach and Shore Preservation Act"and Part III,"Coastal Zone Protection Act of 1985"
which regulate coastal zone construction and all activities likely to affect the condition of the beaches or shore.
2. Chapter 163,Part II,F.S.,the"Local Government Comprehensive Planning and Land Development Regulation Act'
which requires units of local government to establish and implement comprehensive planning programs to control
future development.
3. Chapter 186,F.S.,State and Regional Planning,which requires conformance of projects with Regional Plans and the
State Comprehensive Plan.
4. Chapter 253,F.S.,"Emergency Archaeological Property Acquisition Act of 1988"which requires protection of
archaeological properties of major statewide significance discovered during construction activities.
Form Application DW-1
Incorporated in 62-552.430(l)(a),F.A.C. Page 4 of 9 Effective Date March 9,2022
5. Chapter 258,Part II1,F.S.,which requires protection of components or potential components of the national wild and
scenic rivers system.
6. Chapter 267,F.S.,the`Florida Historical Resources Act"which requires identification,protection,and preservation of
historic properties,archaeological and anthropological sites.
7. Chapter 287,Part 1,F.S.,which prohibits parties convicted of public entity crimes or discrimination from participating
in State-assisted projects and which requires consideration of the utilization of Minority Business Enterprises in State-
assisted projects.
8. Chapter 372,F.S.,the Florida Endangered and Threatened Species Act which prohibits the killing or wounding of an
endangered,threatened,or special concern species or intentionally destroying their eggs or nest.
9. Chapter 373,Part IV,F.S.,Florida Water Resources Act of 1972,which requires that activities on surface waters or
wetlands avoid adversely affecting: public health,safety,welfare,or property;conservation of fish and wildlife,
including endangered or threatened species or their habitats;navigation or the flow of water,the fishing or recreational
values or marine productivity;and significant historical and archaeological resources.
10. Chapter 380,Part 1,F.S.,Florida Environmental Land and Water Management Act of 1972 as it pertains to regulation
of developments and implementation of land and water management policies.
11. Chapter 381,F.S.,Public Health,as it pertains to regulation of onsite wastewater systems.
12. Chapter 403,Part 1,F.S.,Florida Air and Water Pollution Control which requires protection of all waters of the state.
13. Chapter 582,F.S.,Soil and Water Conservation Act which requires conformance with Water Management District's
regulations governing the use of land and water resources.
14. Governor's Executive Order 95-359,which requires State Clearinghouse review of project planning documentation
and intergovernmental coordination.
(c) Assurances for all projects.The loan recipient certifies that it is not listed on the governmentwide exclusions in the
System for Award Management(SAM),in accordance with the OMB guidelines at 2 CFR 180 that implement
Executive Orders 12549(3 CFR part 1986 Comp.,p. 189)and 12689(3 CFR part 1989 Comp.,p.235),"Debarment
and Suspension."
1,the undersigned Authorized Representative of the Applicant,hereby certify that all information contained herein and in the
attached is true,correct,and complete to the best of my knowledge and belief. I further certify that 1 have been duly authorized
to file the application and to provide these assurances.
�--C) T"-) Ll
Signed this 2 — Day of 20
Glenn Irby, City Manager
Authorized Representative ,
(signature) (naine typed or prurted)
Attachments
Form Application DW-1
Incorporated in 62-552.430(1)(a),F.A.C. Page 5 of 9 Effective Date March 9,2022
PART V—SUPPLEMENTARY INFORMATION
SCHEDULE OF PRIOR AND PARITY LIENS
(EXCLUDING SRF LOANS)
List annual debt service beginning two years before the anticipated loan agreement date and continue at least three
additional fiscal years. Use additional pages as necessary.
#1 #2 #3
Identify Each Obligation Refunding Rev.Note,2016 Equipment Purchase Loan,2014 Lease Obligation,2020
Coverage % % %
Insured? X Yes No Yes No Yes No
Total Debt
Fiscal Annual Debt Service(Principal Plus Interest) Total Service Incl.
Year #1 92 #3 Debt Service Coverage
2o22 $1,064,270 $86,228 $9,105 $ 1,159,603 $1,159,603
20 Complete $1,063,455 $86,015 $8,894 $1,158,364 $ 1,158,364
20 Complete $1.063,145 $85,760 $8,894 $1,157.799 $ 1.157,799
2007/2024 $1,063,317 $ $7,411 $1,070,728 $1,070,728
20 Complete $1,062,961 $ $ $1,062,961 $1,062,961
2027 $1,062,075 $ $ $1.062.075 $1.062.075
2028 $0 $ $ $0 $0
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
Form Application DW-1
Incorporated in 62-552.430(1)(a),F.A.C. Page 6 of Effective Date March 9,2022
PART V—SUPPLEMENTARY INFORMATION
SCHEDULE OF ACTUAL REVENUES AND DEBT COVERAGE
(Provide information for the two fiscal years preceding the anticipated date of the SRF loan agreement.)
Year 20 Year 20
(a) Operating Revenues (Source)
Charges for Sales and Services $13,676,600 (FY2022) $14,137,406 (FY2023)
(b) Interest Income
(c) Other Income or Revenue(Identify)
Investment Earnings $79,353 $516,004
Miscellaneous Revenues $109,883 $94,271
(d) Total Revenues $13,865,836 $14,747,681
(e) Operating Expenses(excluding
interest on debt,depreciation, $7,730,032 $8,237,818
and other non-cash items)
(f) Net Revenues [(f)=(d)—(e)] $6,135,804 $6,509,863
(g) Debt
equi ed coverage)ding any
r $1 ,159,603 $1 ,158,364
(h) Attach audited annual financial report(s),or pages thereof,or other documentation necessary to
support the above information. Include any notes or comments from the audit reports regarding
compliance with covenants of debt obligations having a prior or parity lien on the revenues pledged for
repayment of the SRF Loan. (Attachment#7.8
(i) Attach worksheets reconciling this page with the appropriate financial statements(for example,
backing out depreciation and interest payments from operating expenses). (Attachment#NSA
(j) If the net revenues were not sufficient to satisfy the debt service and coverage requirement,please
explain what corrective action was taken. (Attachment#NIA }
Form Application DW-1
Incorporated in 62-552.430(1)(a),F.A.C. Page 7 of 9 Effective Date March 9,2022
PART V—SUPPLEMENTARY INFORMATION
SCHEDULE OF PROJECTED REVENUES AND DEBT COVERAGE
Begin with the fiscal year preceding first anticipated semiannual Ioan payment and continue for at least three
additional years. Attach a separate page for previous State Revolving Fund loans.
Year Year Year Year Year
20 20 20 20 20
(a) Operating Revenue 14,364,430- v24 15,082,651-FY25 15,836,784-FY26 16,628.Q3+-Y2716,628.Q3+-Y27 17,460.054-MO
(b) Interest Income $280,100 $294,105 $308,810 $324,251 $340,463
(c) Other Income or Revenue
(identify)
Miscellaneous Revenues $149,000 $156,450 $164,273 $172,486 $181,110
(d) Total Revenues $14,793,530 $15,533,207 $16,309,867 $17,125,360 $17,981,628
(e) Operating Expenses(excluding
interest on debt,depreciation,and $10,594,030 $11,123,732 $11,679,918 $12,263,914 $12,877,110
other non-cash items)
(f) Net Revenues(f=d-e) $4,199,500 $4,409,475 $4,629,949 $4,861,446 $5,104,518
(g) Revenue(including coverage)
pledged to debt service,excluding $1,157,799 $1,070,728 $1,062,961 $1,062,075 $0
SRF loans
(h) Revenue(including coverage) $700,370 $700,371 $700,372 $700,371 $700,370
pledged to outstanding SRF loans
(i) Revenue Available for this SRF $2,341,331 $2,638,376 $2,866,616 $3,099,000 $4,404,149
Loan[(i)=(fl—(g)—(h)]
(j) Identify the source of the above information and explain methods used to develop the projections(Attachment#s,ta,n�.
Include an explanation of any revenue and expense growth or other adjustments;for example,any rate increases,
service growth,inflation adjustments,expense adjustments reflecting the cost of operating additional facilities,or other
considerations.
(k) For construction loans,are the above projections consistent with the accepted financial ❑■ Yes [I No
feasibility information in the planning documents?
If"No",please explain. (Attachment#N/A
Form Application DW-I
Incorporated in 62-552.430(l)(a),F.A.C. Page 8 of 9 Effective Date March 9,2022
PART V—SUPPLEMENTARY INFORMATION
LIST OF ATTACHMENTS
LIST OF ATTACHMENTS. This application requires the submittal of Attachments to provide supplemental
information. The application is not complete without the completed List of Attachments. Please list all
attachments that you are including with this application form.
Attachment Number
Construction Schedule and Costs Summary 1
Project Description 2
Description of Construction Activities 3
Description of Current Debt Obligations 4
Legal Opinion 5
Authorizing Resolution 6
FY2022 Audited Financial Statements 7
FY2023 Audited Financial Statements 8
Previous SRF Debt Service 9
FY2023 Annual Budget 10
FY2024 Annual Budget 11
Schedule of Projected Rev/Exp, Basis of Projections 12
Form Application DW-I
Incorporated in 62-552.430(I)(a),F.A.C. Page 9 of 9 Effective Date March 9,2022