Roberts moves forward with interim financing for CLEARAS treatment system
The village of Roberts is making progress on the process of setting up interim financing for its new wastewater treatment system. Village president Willard Moeri said that due to stricter regulations from the state, the new CLEARAS system needs to be installed sooner, rather than later, to meet regulations by a Department of Natural Resources deadline.
The village is working with its financial advising company, Ehlers, to set up interim financing options. Senior municipal advisor/director Sean Lentz said Ehlers is putting together a request for proposals on behalf of the village, which will be sent out to prospective buyers of Roberts' debt.
Those proposals will be presented to the village board in September.
In the longerm, the village plans to apply for a "Clean Water Fund Loan" through the Wisconsin DNR, which has 20-year low fixed-rate financing.
"The intention is to begin the application process for that," said Lenz. "And once that has been approved, then they can close on that long-term loan and use the proceeds from that clean water fund loan to pay off the interim financing."
The Clean Water Fund Loan takes time to be approved, and the village does not have enough time before the deadline before bills must be paid so work can begin, Moeri said. The interim financing, as the name implies, will cover the costs of the project, and get it started while the village waits for the Clean Water Fund Loan to be approved.