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HomeMy WebLinkAbout10/26/2022 - Telecommunications Minutes*** Proof of Publication *** State of Iowa Black Hawk County Waterloo, City of - Legals 715 MULBERRY ST. WATERLOO IA 50703 ORDER NUMBER 219391 The undersigned, being duly sworn, on oath, do depose and say that I am an authorized employee of the Waterloo Cedar Falls Courier, that The Waterloo Cedar Falls Courier is a weekly newspaper regularly published and printed in the English language in the City of Waterloo, Black Hawk County, Iowa, and has a general circulation in the said city and county; and that I personally know that the notice, a true copy of which is hereto affixed, was published in the Waterloo Cedar Falls Courier on the following days, to -wit: Section: Legals Category: 950 Legal Notice PUBLISHED ON: 12/05/2022 TOTAL AD COST: FILED ON: 141.20 12/5/2022 That the issues of said paper containing said notice were duly circulated in the regular manner. e UM G'l c in and, r�UCounty otary Public in and for aid County MICHELLE GRAHAM Commission Number 837641 My Commission Expires February 23, 2025 *** Proof of Publication *** TELECOMMUNICATIONS UT1 BOARD OF TRUSTEES Harold E. Getty Council Chem City Hall October 26, 2022 4:00 p.m. Members present: Batemon, Kurt Young, Van Fleet, and Council Rob Nichols. Moved by Kurtenbach secon Young that the Agenda, as props approved. Voice -vote Ayes: Four carried. Moved by Young seconded by bach that the minutes of July 14, : proposed, be approved. Voice-vo Four. Motion carried. General progress update from t Advisors. Courtney Violette, P Advisors, shared that the GO Br awarded, Waterloo was award million EDA Grant for up Now Deere Plant, and NW Industrial P Airport area. The Middle Mile currently pending. Design is com the most part. City is to review point and give feedback. Sir meeting, with the middle mile go are tracking three projects with th This includes two backbone along with fiber to the home and I They are currently working on p bid packets for the middle mile and outlined future timelines, whit allow the projects to be bid mid-2C Mr. Van Fleet questioned when c Lion on the middle mile grant woul Courtney Violette shared that thei not be an award until late march and then it would go to environmc it could be bid potentially in sut 2023. Mr. Young questioned when could begin to be provided. Courtney Violette explained that ers could start to come online 9 after construction starts. Maggie Burger, Speer Financ plained that the middle mile gra came in late through the NTIA. Mr. Van Fleet questioned if the start down the path as though th not getting the middle mile grar awarded switch gears. Courtney Violette shared he wot to defer to Maggie as it woulc funding timelines. Maggie Berger questioned if envi tal goes well on EDA, could tha out because it's a separate bid pa Courtney Violette shared that f portion of the project is nothing the rest of the project. That's w concem lies. He added that the potentially bid it out earlier with t that an award comes through b funding would have to be exan determine if that is a viable option Update from bond counsel. Burger, Speer Financial, pro\ financial update and stated t overall estimated project cost rer one hundred and fifteen million She reviewed the various funding and noted that the city has been the IEDA $1.8 million dollars with match of $600,000 using TIF fund match. There is $25 million dr ARPA funds that have been de towards this project. Additional from general obligation authc sewer, storm and water are also t for use. She shared information Middle Mile Grant, which is backbone of this system. It is million dollar with $15 million in r funds, which have been identifier general obligation bond. She e that the first round of debt (workin borrowing) would likely need to bi around March through May of 20 the issuance of debt, you probat to start having audited financit ments. She further explained that nowt to mart with the. Wate.r *** Proof of Publication *** Director to see what they entrap participation to be. They are also on a sewer model to so some prc for the sewer portion of the publ as to what projects they have co outside of this protect to identif how and where we fit in for any i of sewer revenue debt for both se storm water purposes. Mr. Van Fleet questioned if a forr would be required for the audited statements. Maggie Burger commented probably unlikely that a formal RF be needed for this first year, since for the end of this fiscal ye. explained it is a professional which in Iowa, can be selected wi RFP. She added that we might • the city's auditor since it's just quarter. Doing an RFP could s good idea because you may find firm who specializes in utilities ve public finance. She said they have firms as well as sample RFP's. Mike Yong questioned if there wa when the Middle Mile Grant w awarded. Maggie Burger explained that w€ have informal approval in Decerr a formal award would follow later. Courtney Violette explained that weeks lead-time with manufi Lead times are planned into sc and fiber cannot go into the grour substantial amount of conduit i; ground. Steve Nadel shared that there ha discussions in the background tc all of the financing has been r planned and able to be available of the steps of the project. When t came up that threw a wrinl financing and timing, and when th go to bid. He added an exptanatic the backbone portion of the pro shared that there will be portion project that remain with the city at is going to be building the backb the utility will have a separate p the project. In terms of technicall! managing, governing, and cc portions and financing portions s be under the city and some will t the utility. There will be interplay I the two and that has to happen the end goal, but the entire thing be the utility's responsibility. Mr. Van Fleet shared that the recentty invited to existing utit tours to learn more about what tt holds. Mr. Young questioned if it w possible we could be awarded tl at a lesser amount or is it all or no Courtney Violette shared that the all or nothing. Mr. Van Fleet questioned the poin Maggie Burger shared that po allotted and that in doing a 50/50