Richwood officials are moving forward on a loan application agreement for funds that will help construct the new water plant.
At the Monday village meeting, council voted to approve the measure, which would bring nearly $1.3 million into the village for the project.
The money would go toward the new construction but also help repurpose the existing facility.
Village Administrator Monte Asher said the money would be repaid through residents’ monthly water bills.
“It will go on each bill and be like $6 a month to repay that,” he said. “It will be its own line item, just like the new sewer line that’s a $1.53. It will be listed as a critical project implement. So, it would add up to an extra $6 a month.”
Asher said the project total, when all is said and done, will be between $4.7 and $5 million. This loan will help pay a portion as will the village’s $2.6 million in grant funding that arrived in late 2021.
The village passed the measure as an emergency, which Asher said was due to timeline pressures.
“The reason why we’re declaring an emergency is because if we don’t get this signed and get it in, we’re going to miss our bid-out date,” he said. “Then they would push it out about three months. And that could run the costs back up.”
The hope was to get the project started sooner, recently planning to go to bid in the fall. Delays caused the timeline to be pushed back several times.
Asher said the process includes the plans being approved by the Environmental Protection Agency. This loan information will be included in the paperwork sent to that office.
Officials met with Access Engineering, the company helping with the project, and said this paperwork should help push the project forward.