Winter Park approves $19.17M wastewater loan; half forgiven and remainder at 0% for 20 years

City staff presented an ordinance authorizing application for a State Revolving Fund loan to support wastewater system resiliency projects. Finance staff said the loan figure is $19,166,503 through the Florida Department of Environmental Protection; half of the loan would be forgiven and the remaining balance could be repaid over 20 years at 0% interest.

Wes (finance) summarized the terms and noted that the loan would be repaid from water and wastewater system revenues, not ad valorem taxes. He estimated annual repayment obligations in the neighborhood of $440,000 under the loan structure presented. Mayor De Ciccio publicly thanked staff — notably Gloria — for securing the favorable financing.

Commissioners voted to approve the ordinance authorizing the loan application and the execution of loan documents; staff said the funding would accelerate wastewater system resiliency projects and that any closing documents would be brought forward if the application is approved by DEP.