HomeMy WebLinkAboutCopy of Project Funding Scenarios 6-26-2021bwPort Hadlock, WA - Sewer System
Project Funding Sources - Public System
DRAFT FOR DISCUSSION - A. BASE
Source
State Design Appropriation
USEDA Grant
State Cap. Appropriation - Construction
Sen. Murray Request
Dept. of Ecology (75% Grant)
Dept. of Ecology (25% Loan)
PWTF Board, Dept. of Commerce (Loan)
USEDA-Public Works Program (Grant)
Connection Fees
County Capital
USDA Rural Development (Loan)
USDA Rural Development (Grant)
Other
Total Project Funds:
Total Project Cost Estimate:
Difference:
*F/S/L = federal, state, local
Grinder Pumps and Private On-Site
Source
Property Owners
Other
Total:
Total Project Cost Estimate:
Difference:
Total Project Cost:
Estimated Annual Loan Payments
Amount Borrowed
Borrowing Assumptions:
Interest Rate
Term of Loan (years)
Estimated Annual Loan Payment
Anticipated PIF Bridge Loan Required
pie charts
DRAFT FOR DISCUSSION - A. BASE
CORE Only, 20% Local Match for federal $2.5M appropriation
PORT HADLOCK WASTEWATER - FUNDING SOURCES
From Legislative Request 2021:
47. Besides the amount being requested, what amount of local, federal or other state funding does the applicant plan
on securing in the future in order to complete the project? Please list by program.
SECURE IN FUTURE
Dept. of Ecology - Grant
USDA Rural Dev Program - Grant
USEDA - Grant
Dept. of Ecology - Loan
USDA Rural Dev Program - Loan
PWTF, Dept. of Commerce - Loan
Local Funding - Jefferson County
Property Owner Funds - Onsite
Subtotal Future
THIS REQUEST
Senator Murray Request 2021
Subtotal This Request
Total Future & This Request
EXISTING
State Appropriation - Final Design
State Appropriation - Construction
Subtotal Existing
TOTAL PT. HADLOCK WASTEWATER
F/S/L*
State
Federal
State
Federal
State
State
State
Federal
Local
Local
Federal
Federal
F/S/L
Local
2024-2032 assumes PIF funds used to make existing debt payments on Bonds & PWTF for land & local match
Draft 6-26-21 (Facility Plan Cost Estimates)
Draft 6-26-21
GRANT
0
0
0
0
2500000
2500000
2500000
1422675
20175000
21597675
24097675
Status
Secure
Denied
Approved
Submitted
Future
Future
Future
Future
Secure
Secure
Future
Future
Status
Secure
0
0.02
20
0
Updated
LOAN
0
0
0
0
0
0
0
0
Amount
1422675
0
20175000
2500000
0
0
0
0
1000000
500000
0
0
25597675
19936719
5660956
Amount
3733423
3733423
3733423
0
23670142
0
0.02
30
0
DRAFT FOR DISCUSSION - A. BASE
LOCAL
1500000
3733423
5233423
0
5233423
0
5233423
CORE Only, 20% Local Match for federal $2.5M appropriation
29331098
Funding Sources
1422675
20175000
2500000
0
0
1500000
3733423
29331098
TOTAL
5233423
2500000
7733423
21597675
29331098
Draft 6-26-21 (Facility Plan Cost Estimates)
Received in 2020. Work in progress.
Denied October 2020
2021-23 Capital Budget, 4/22/2021, Sec. 1085, Dept. of Commerce
Submitted May 2021
For "Elevated Hardship" County
Loan covered by extended 0.09 Program ending 2054
Loan covered by extended 0.09 Program ending 2054
Hold Old Alcohol Plant to focus on CORE
200 ERUs @ $5,000/each
Local match: 20% x $2.5M = $500k
Loan covered by extended 0.09 Program ending 2054
Includes design contingency
Construction contingency amount
This amount varies depending on number of ERUs. This estimate is for 350 ERUs.
Works out to $10,667 per ERU assuming 350 ERUs
= total funds
Will depend on final financing
Annual payment is less for longer repayment but cannot exceed useful life
State Design Appropriation
State Construction Appropriation-Requested Legislative Action
Federal Appropriation-Sen. Murray Request
Grants
Loans
Local (County, Sewer Connections)
Private On-site Grinder Pumps
Old Alcohol Plant, $2M after CORE?
Connection Fees + County Local Matches
Port Hadlock Wastewater Facility (State Appropriation - Construction)
Port Hadlock, WA - Sewer System
Project Funding Sources - Public System
DRAFT FOR DISCUSSION - B. WHAT IF GRANT $ TOWARD ONSITE?
Source
State Design Appropriation
USEDA Grant
State Cap. Appropriation - Construction
Sen. Murray Request
Dept. of Ecology (75% Grant)
Dept. of Ecology (25% Loan)
PWTF Board, Dept. of Commerce (Loan)
USEDA-Public Works Program (Grant)
Connection Fees
County Capital
USDA Rural Development (Loan)
USDA Rural Development (Grant)
Other
Total Project Funds:
Total Project Cost Estimate:
Apply Grant Towards On-Site
Difference:
*F/S/L = federal, state, local
Grinder Pumps and Private On-Site
Source
Property Owners
Potential Grant Grinder Pump & Laterals**
Other
Total:
Total Project Cost Estimate:
Difference:
Total Project Cost:
** If eligible, Potential grant assumes partial grinder pump & lateral cost placeholder from facility plan. Will be clarified during design.
Estimated Annual Loan Payments
Amount Borrowed
Borrowing Assumptions:
Interest Rate
Term of Loan (years)
Estimated Annual Loan Payment
Anticipated PIF Bridge Loan Required
pie charts
DRAFT FOR DISCUSSION - B. WHAT IF GRANT $ TOWARD ONSITE?
80% grant for on-site, CORE only
PORT HADLOCK WASTEWATER - FUNDING SOURCES
From Legislative Request 2021:
47. Besides the amount being requested, what amount of local, federal or other state funding does the applicant plan
on securing in the future in order to complete the project? Please list by program.
SECURE IN FUTURE
Dept. of Ecology - Grant
USDA Rural Dev Program - Grant
USEDA - Grant
Dept. of Ecology - Loan
USDA Rural Dev Program - Loan
PWTF, Dept. of Commerce - Loan
Local Funding - Jefferson County
Property Owner Funds - Onsite
Subtotal Future
THIS REQUEST
Senator Murray Request 2021
Subtotal This Request
Total Future & This Request
EXISTING
State Appropriation - Final Design
State Appropriation - Construction
Subtotal Existing
TOTAL PT. HADLOCK WASTEWATER
F/S/L*
State
Federal
State
Federal
State
State
State
Federal
Local
Local
Federal
Federal
F/S/L
Local
2024-2032 assumes PIF funds used to make existing debt payments on Bonds & PWTF for land & local match
Draft 6-26-21 (Facility Plan Cost Estimates)
Draft 6-26-21
GRANT
0
0
0
0
2500000
2500000
2500000
1422675
20175000
21597675
24097675
Status
Secure
Denied
Approved
Submitted
Future
Future
Future
Future
Secure
Secure
Future
Future
Status
Secure
0
0.02
20
0
Updated
LOAN
0
0
0
0
0
0
0
0
Amount
1422675
0
20175000
2500000
0
0
0
0
1000000
500000
0
0
25597675
19936719
2986738.4
2674217.6
Amount
746684.6
2986738.4
3733423
3733423
0
23670142
0
0.02
30
0
DRAFT FOR DISCUSSION - B. WHAT IF GRANT $ TOWARD ONSITE?
LOCAL
1500000
746684.6
2246684.6
0
2246684.6
0
2246684.6
80% grant for on-site, CORE only
0.2
0.8
26344359.6
Funding Sources
1422675
20175000
2500000
0
0
1500000
746684.6
26344359.6
TOTAL
2246684.6
2500000
4746684.6
21597675
26344359.6
Draft 6-26-21 (Facility Plan Cost Estimates)
Received in 2020. Work in progress.
Denied October 2020
2021-23 Capital Budget, 4/22/2021, Sec. 1085, Dept. of Commerce
Submitted May 2021
For "Elevated Hardship" County
Loan covered by extended 0.09 Program ending 2054
Loan covered by extended 0.09 Program ending 2054
Hold Old Alcohol Plant to focus on CORE
200 ERUs @ $5,000/each
Local match: 20% x $2.5M = $500k
Loan covered by extended 0.09 Program ending 2054
Includes design contingency
asumes 80% of grinder pumps/on-site costs
Construction contingency amount
asume grant of 80%, requires 20% local match (property owners)
This amount varies depending on number of ERUs. This estimate is for 350 ERUs.
Works out to $10,667 per ERU assuming 350 ERUs
= total funds
Will depend on final financing
Annual payment is less for longer repayment but cannot exceed useful life
State Design Appropriation
State Construction Appropriation-Requested Legislative Action
Federal Appropriation-Sen. Murray Request
Grants
Loans
Local (County, Sewer Connections)
Private On-site Grinder Pumps
Old Alcohol Plant, $2M in addition to Core
Connection Fees + County Local Matches
356
2097.42865168539
Port Hadlock Wastewater Facility (State Appropriation - Construction)
Port Hadlock, WA - Sewer System
Project Funding Sources - Public System
DRAFT FOR DISCUSSION - C. ADD OLD ALCOHOL PLANT
Source
State Design Appropriation
USEDA Grant
State Cap. Appropriation - Construction
Sen. Murray Request
Dept. of Ecology (75% Grant)
Dept. of Ecology (25% Loan)
PWTF Board, Dept. of Commerce (Loan)
USEDA-Public Works Program (Grant)
Connection Fees
County Capital
USDA Rural Development (Loan)
USDA Rural Development (Grant)
Other
Total Project Funds:
Total Project Cost Estimate:
Apply Funds Towards On-Site
Difference:
*F/S/L = federal, state, local
Grinder Pumps and Private On-Site
Source
Property Owners
Potential Grant Grinder Pump & Laterals**
Other
Total:
Total Project Cost Estimate:
Difference:
Total Project Cost:
** If eligible, Potential grant assumes partial grinder pump & lateral cost placeholder from facility plan. Will be clarified during design.
Estimated Annual Loan Payments
Amount Borrowed
Borrowing Assumptions:
Interest Rate
Term of Loan (years)
Estimated Annual Loan Payment
Anticipated PIF Bridge Loan Required
pie charts
DRAFT FOR DISCUSSION - C. ADD OLD ALCOHOL PLANT
With Old Alcohol Plant funded by EDA, 80% grant for on-site
PORT HADLOCK WASTEWATER - FUNDING SOURCES
From Legislative Request 2021:
47. Besides the amount being requested, what amount of local, federal or other state funding does the applicant plan
on securing in the future in order to complete the project? Please list by program.
SECURE IN FUTURE
Dept. of Ecology - Grant
USDA Rural Dev Program - Grant
USEDA - Grant
Dept. of Ecology - Loan
USDA Rural Dev Program - Loan
PWTF, Dept. of Commerce - Loan
Local Funding - Jefferson County
Property Owner Funds - Onsite
Subtotal Future
THIS REQUEST
Senator Murray Request 2021
Subtotal This Request
Total Future & This Request
EXISTING
State Appropriation - Final Design
State Appropriation - Construction
Subtotal Existing
TOTAL PT. HADLOCK WASTEWATER
F/S/L*
State
Federal
State
Federal
State
State
State
Federal
Local
Local
Federal
Federal
F/S/L
Local
2024-2032 assumes PIF funds used to make existing debt payments on Bonds & PWTF for land & local match
Draft 6-26-21 (Facility Plan Cost Estimates)
Draft 6-26-21
GRANT
0
0
1600000
1600000
2500000
2500000
4100000
1422675
20175000
21597675
25697675
Status
Secure
Denied
Approved
Submitted
Future
Future
Future
Future
Secure
Secure
Future
Future
Status
Secure
0
0.02
20
0
Updated
LOAN
0
0
0
0
0
0
0
0
Amount
1422675
0
20175000
2500000
0
0
0
1600000
1000000
900000
0
0
27597675
21936719
2986738.4
2674217.6
Amount
746684.6
2986738.4
3733423
3733423
0
25670142
0
0.02
30
0
DRAFT FOR DISCUSSION - C. ADD OLD ALCOHOL PLANT
LOCAL
1900000
746684.6
2646684.6
0
2646684.6
0
2646684.6
With Old Alcohol Plant funded by EDA, 80% grant for on-site
0.2
0.8
28344359.6
Funding Sources
1422675
20175000
2500000
1600000
0
1900000
746684.6
28344359.6
TOTAL
4246684.6
2500000
6746684.6
21597675
28344359.6
Draft 6-26-21 (Facility Plan Cost Estimates)
Received in 2020. Work in progress.
Denied October 2020
2021-23 Capital Budget, 4/22/2021, Sec. 1085, Dept. of Commerce
Submitted May 2021
For "Elevated Hardship" County
Loan covered by extended 0.09 Program ending 2054
Loan covered by extended 0.09 Program ending 2054
ADD Old Alcohol Plant Area Collection 80% x $2M
200 ERUs @ $5,000/each
Local match: 20% x $2.5M = $500k, 20% x $2M = $400k
Loan covered by extended 0.09 Program ending 2054
Includes design contingency
asumes 80% of grinder pumps/on-site costs
Construction contingency amount
asume grant of 80%, requires 20% local match
This amount varies depending on number of ERUs. This estimate is for 350 ERUs.
Works out to $10,667 per ERU assuming 350 ERUs
= total funds
Will depend on final financing
Annual payment is less for longer repayment but cannot exceed useful life
State Design Appropriation
State Construction Appropriation-Requested Legislative Action
Federal Appropriation-Sen. Murray Request
Grants (USEDA)
Loans
Local (County, Sewer Connections)
Private On-site Grinder Pumps
Old Alcohol Plant, $2M in addition to Core
Connection Fees + County Local Matches
adds $2M Old Alcohol Plant
Port Hadlock Wastewater Facility (State Appropriation - Construction)
Port Hadlock, WA - Sewer System
Project Funding Sources - Public System
Source
State Design Appropriation
USEDA Grant
State Cap. Appropriation
Dept. of Ecology (75% Grant)
Dept. of Ecology (25% Loan)
PWTF Board, Dept. of Commerce (Loan)
USEDA-Public Works Program (Grant)
Connection Fees
County Capital
USDA Rural Development (Loan)
USDA Rural Development (Grant)
Future Appropriation?
Other
Total Project Funds:
Total Project Cost Estimate:
Difference:
*F/S/L = federal, state, local
Grinder Pumps and Private On-Site
Source
Property Owners
Other
Total:
Total Project Cost Estimate:
Difference:
Total Project Cost:
Estimated Annual Loan Payments
Amount Borrowed
Borrowing Assumptions:
Interest Rate
Term of Loan (years)
Estimated Annual Loan Payment
Anticipated PIF Bridge Loan Required
pie charts
From Legislative Request 2021:
47. Besides the amount being requested, what amount of local, federal or other state funding does the applicant plan
on securing in the future in order to complete the project? Please list by program.
SECURE IN FUTURE
Dept. of Ecology - Grant
USDA Rural Dev Program - Grant
USEDA Public Works Program - Grant
Dept. of Ecology - Loan
USDA Rural Dev Program - Grant
PWTF, Dept. of Commerce - Loan
Local Funding - Jefferson County
Property Owner Funds - Onsite
Subtotal Future
THIS REQUEST
Legislative Request 2021
Subtotal This Request
Total Future & This Request
EXISTING
State Appropriation - Final Design
Subtotal Existing
TOTAL PT. HADLOCK WASTEWATER
F/S/L*
State
Federal
State
State
State
State
Federal
Local
Local
Federal
Federal
State
F/S/L
Local
2024-2032 assumes PIF (50%) extended thru 2054. Reimbursed by 2050.
Draft 2-2-21
GRANT
3750000
1167022
2000000
6917022
5500000
5500000
12417022
1422675
1422675
13839697
Status
Secure
Denied
Applying
Future
Future
Future
Future
Secure
Secure
Future
Future
Status
Secure
4417022
0.02
20
270130.5694
LOAN
1250000
1167022
2000000
4417022
0
4417022
0
4417022
Amount
1422675
0
5500000
3750000
1250000
2000000
2000000
1000000
680000
1167022
1167022
19936719
19936719
0
Amount
3733423
3733423
3733423
0
23670142
4417022
0.02
30
197219.6891
LOCAL
1073956
4287000
5360956
0
5360956
0
5360956
Funding Sources
1422675
5500000
6917022
4417022
1680000
3733423
23670142
TOTAL
16695000
5500000
22195000
1422675
23617675
Received in 2020. Work in progress.
Denied October 2020
For "Elevated Hardship" County
Loan covered by extended 0.09 Program ending 2054
Loan covered by extended 0.09 Program ending 2054
200 ERUs @ $5,000/each
Loan covered by extended 0.09 Program ending 2054
Includes design contingency
Construction contingency amount
This amount varies depending on number of ERUs. This estimate is for 350 ERUs.
Works out to $10,667 per ERU assuming 350 ERUs
Will depend on final financing
Annual payment is less for longer repayment but cannot exceed useful life
State Design Appropriation
State Construction Appropriation-Requested Legislative Action
Grants (Ecology, USDA-RD, USEDA-PW)
Loans (PWTF, ECOLOGY, USDA-RD)
Local (County, Sewer Connections)
Private On-site Grinder Pumps
or $1,073,956 + $275,000 = $1,348,956
or $4,287,000 - $275,000 = $4,012,000
Port Hadlock, WA - Sewer System
Project Funding Sources - Public System
Source
State Design Appropriation
USEDA Grant
State Cap. Appropriation
Dept. of Ecology (75% Grant)
Dept. of Ecology (25% Loan)
PWTF Board, Dept. of Commerce (Loan)
USEDA-Public Works Program (Grant)
Connection Fees
County Capital
USDA Rural Development (Loan)
USDA Rural Development (Grant)
Future Appropriation?
Other
Total Project Funds:
Total Project Cost Estimate:
Difference:
*F/S/L = federal, state, local
Grinder Pumps and Private On-Site
Source
Property Owners
Other
Total:
Total Project Cost Estimate:
Difference:
Total Project Cost:
Estimated Annual Loan Payments
Amount Borrowed
Borrowing Assumptions:
Interest Rate
Term of Loan (years)
Estimated Annual Loan Payment
Anticipated PIF Bridge Loan Required
pie charts
F/S/L*
State
Federal
State
State
State
State
Federal
Local
Local
Federal
Federal
State
F/S/L
Local
2024-2032 assumes PIF (50%) extended thru 2054. Reimbursed by 2050.
Status
Secure
Denied
Applying
Future
Future
Future
Future
Secure
Secure
Future
Future
Status
Secure
5417022
0.02
20
331287.2875
Amount
1422675
0
5500000
3750000
1250000
3000000
1000000
1000000
680000
1167022
1167022
19936719
19936719
0
Amount
3733423
3733423
3733423
0
23670142
5417022
0.02
30
241869.6114
Funding Sources
1422675
5500000
5917022
5417022
1680000
3733423
23670142
Received in 2020. Work in progress.
Denied October 2020
For "Elevated Hardship" County
Loan covered by extended 0.09 Program ending 2054
Loan covered by extended 0.09 Program ending 2054
200 ERUs @ $5,000/each
Loan covered by extended 0.09 Program ending 2054
Includes design contingency
Construction contingency amount
This amount varies depending on number of ERUs. This estimate is for 350 ERUs.
Works out to $10,667 per ERU assuming 350 ERUs
Will depend on final financing
Annual payment is less for longer repayment but cannot exceed useful life
State Design Appropriation
State Construction Appropriation-Requested Legislative Action
Grants (Ecology, USDA-RD, USEDA-PW)
Loans (PWTF, ECOLOGY, USDA-RD)
Local (County, Sewer Connections)
Private On-site Grinder Pumps
SEWER FUND DEBT SERVICE with PIF Excess to Reserve
YEAR
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
Total:
REFUNDED BOND PRINCIPAL & INTEREST ($2,200,000 in 2011)
165654.18
164822.5
163760
162570
165360
163020
157605
162963
159464
155438
163301
158881
159753
161031
162053
162220
162167
161932
161464
163758
3237216.68
Estimated 2% annual increase in PIF revenue
2012 PWTF LOAN PRINCIPAL & INTEREST ($1,676,000 in 2012)
32203.13
66179.24
65890.23
65601.25
65312.25
65023.27
64734.27
64445.27
64156.3
63867.28
63578.31
63289.3
63000.32
62711.33
62422.33
62133.34
61844.34
61555.36
61266.37
60977.37
60688.38
60399.38
60110.4
59821.39
59532.42
59243.42
58954.42
58665.43
58376.44
58087.45
1834069.99
$6.5M 30-yr 2% LOAN (2023)
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
7545200
PIF TRANSFER (50% of Total)
160000
160000
160000
170000
205379
170000
290730
254399
287466
275000
275000
280500
286110
291832.2
297668.844
303622.22088
309694.6652976
315888.558603552
322206.329775623
328650.456371136
335223.465498558
341927.934808529
348766.4935047
355741.823374794
362856.65984229
370113.793039136
377516.068899918
385066.390277917
392767.718083475
400623.072445145
408635.533894048
416808.244571929
425144.409463367
433647.297652634
442320.243605687
451166.648477801
460189.981447357
469393.781076304
478781.65669783
488357.289831787
498124.435628422
508086.924340991
518248.662827811
528613.636084367
11474562.1754227
EXCESS FUNDS
-5654.17999999999
-4822.5
-3760
7430
40019
6980
100921.87
25256.76
62111.77
53960.75
46386.75
56595.73
-228577.27
-223844.07
-218740.456
-212665.05912
-206250.6447024
-199532.741396448
-192457.990224377
-188018.873628864
-17398.8645014418
-10405.4051914706
-3277.84649530001
3986.463374794
11390.2898422899
18936.4230391357
26627.6888999184
34467.0102779168
42457.3180834751
50601.6824451446
58903.1138940476
67364.8245719285
75989.9894633671
84781.8676526345
93743.8036056871
102879.198477801
169989.981447357
179193.781076304
188581.65669783
198157.289831787
207924.435628422
217886.924340991
518248.662827811
528613.636084367
LIFE TO DATE EXCESS
-5654.17999999999
-10476.68
-14236.68
-6806.67999999999
33212.32
40192.32
141114.19
166370.95
228482.72
282443.47
328830.22
385425.95
156848.68
-66995.39
-285735.846
-498400.90512
-704651.5498224
-904184.291218848
-1096642.28144322
-1284661.15507209
-1302060.01957353
-1312465.424765
-1315743.2712603
-1311756.80788551
-1300366.51804322
-1281430.09500408
-1254802.40610416
-1220335.39582625
-1177878.07774277
-1127276.39529763
-1068373.28140358
-1001008.45683165
-925018.467368284
-840236.59971565
-746492.796109963
-643613.597632162
-473623.616184805
-294429.835108501
-105848.178410671
92309.1114211158
300233.547049538
518120.471390529
1036369.13421834
1564982.77030271
1564982.77030271
1564982.77030271
1564982.77030271
1564982.77030271
1564982.77030271
1564982.77030271
Deficit years can be covered in several ways:
1) Internal funding from capital
2) Use more than 50% of PIF for these years
3) Internal borrow and repay with surplus in later years
End of current PIF program
End of 20-year PIF extension
What PIF (50%) is Available after 2011 Bonds & 2012 PWTF?
61622.73
66355.93
71459.544
77534.94088
83949.3552976
90667.2586035521
97742.0097756231
102181.126371136
272801.135498558
279794.594808529
286922.1535047
294186.463374794
301590.28984229
309136.423039136
316827.688899918
324667.010277917
332657.318083475
340801.682445145
349103.113894048
357564.824571929
366189.989463367
374981.867652634
383943.803605687
393079.198477801
460189.981447357
469393.781076304
478781.65669783
488357.289831787
498124.435628422
508086.924340991
518248.662827811
528613.636084367
Funding sources use a variety of repayment calculation methods.
PWTF uses level principal payments, with interest on the outstanding balance
Loan Calculator
6500000
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
Ecology uses level payments over the repayment period, more like a mortgage
Assumptions
Principal:
Year
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
Total
0.02
Principal
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
216666.6667
6500000
6500000
Annual Payment
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
290200
8706000
Balance
6500000
6283333.3333
6066666.6667
5850000
5633333.3333
5416666.6667
5200000
4983333.3333
4766666.6667
4550000
4333333.3333
4116666.6667
3900000
3683333.3333
3466666.6667
3250000
3033333.3333
2816666.6667
2600000
2383333.3333
2166666.6667
1950000
1733333.3333
1516666.6667
1300000
1083333.3333
866666.6667
650000
433333.3333
216666.6667
0
Years
Interest Rate
30
Interest
130000
125666.6667
121333.3333
117000
112666.6667
108333.3333
104000
99666.6667
95333.3333
91000
86666.6667
82333.3333
78000
73666.6667
69333.3333
65000
60666.6667
56333.3333
52000
47666.6667
43333.3333
39000
34666.6667
30333.3333
26000
21666.6667
17333.3333
13000
8666.6667
4333.3333
2015000
30
0.02
Years
Payment
(Annual)
346666.6667
342333.3333
338000
333666.6667
329333.3333
325000
320666.6667
316333.3333
312000
307666.6667
303333.3333
299000
294666.6667
290333.3333
286000
281666.6667
277333.3333
273000
268666.6667
264333.3333
260000
255666.6667
251333.3333
247000
242666.6667
238333.3333
234000
229666.6667
225333.3333
221000
8515000
283833.3333
8515000
Avg. Annual Payment
Checks
Ecology Integrated WQ Interest Rates
Table 12: SFY22 Wastewater Construction Hardship Loan Interest Rates & Grant/Forgivable
Principal Loan Eligibiiity
Based on Ecology, State Fiscal Year 2022 Funding Guidelines, August 2020
https://fortress.wa.gov/ecy/publications/documents/2010024.pdf
https://ecology.wa.gov/About-us/How-we-operate/Grants-loans/Find-a-grant-or-loan/Water-Quality-Combined-Funding-Program/WQC-funding-cycle
What does this mean for Pt. Hadlock UGA Sewer Project?
Ecology SFY22 WW Construction Hardship Loan Interest Rates & Grant Eligibiiity
Sewer Cost divided by MHI
Hardship Designation
20-Year Loan Rates
30-Year Loan Rates
Grant Eligibility
Pt Had/Irondale UGA MHI*
Hardship Cost by Tier**
*Annual Median Household Income from Ecology Appendix M-1, Funding Guidelines SFY2021
**The monthly cost per ERU to be eligible for each hardship tier = MHI / 12 x %MHI for tier.
Washington State MHI
Ecology Hardship Continuum for Port Hadlock's Median Household Income of $54,257
Hardship Designation
Non-Hardship
Moderate Hardship
Elevated Hardship
Severe Hardship
Facility Plan examples of grant $$ showed Severe to Elevated hardship.
<2%
Non-hardship
0.012
0.016
Not eligible
54257
up to $90
70116
Sewer Fee Divided by MHI
<2%
> 2% but <3%
>3% but <5%
> 5%
> 2% and <3%
Moderate Hardship
0.008
0.012
50% (up to $5M)
90.4283
0.773817673569513
Monthly Sewer Cost per ERU
up to $90
90.4283
135.6425
226.0708
>3% and <5%
Elevated Hardship
0.004
0.008
75% (up to $5M)
135.6425
Pt. Had as % of WA st
> 5%
Severe Hardship
0
0.004
100% (up to $5M)
226.0708
Project Funding Sources - Public System
Source
EDA Grant
State Cap. Appropriation
Dept. of Ecology
Loan (PWTFB)
Connection Fees
County Capital
Other
Other
Total Project Funds:
EDA Project Cost Estimate:
Difference:
Remaining Project Sources - Public System
*(Excluding privite on-site grinder pumps/lines)
Source
State Design Appropriation
State Cap. Appropriation
USDA Rural Development (Loan)
USDA Rural Development (Grant)
Other
Other
Remainder Project Funds:
Total Project Funds:
Total Project Cost Estimate:
Difference:
Grinder Pumps and Private On-Site
Source
Property Owners
Other
Total:
Total Project Cost Estimate:
Difference:
Total Project Cost:
F/S/L
F/S/L
S
S/F
S/L
L
L
F/S/L
S
S
F
F
F/S/L
Local
Status
Denied
Applying
Future
Future
Secure
Secure
Status
Secure
Planned
Planned
Planned
Planned
Status
Secure
Amount
0
5000000
5000000
4196727
1000000
1180000
16376727
16376727
0
Amount
1422675
0
1068658.5
1068658.5
0
3559992
19936719
19936719
0
Amount
3733423
3733423
3733423
0
23670142
Note: This is construction of the treatment plant, waste water re-use area,
main influent pipeline from SR-116 to plant. It is also the collection system
for commercial/industrial Core Area and Alcohol extension.
Denied October 2020
For a hardship County
Loan covered by extended 0.09 Program ending 2054
Assume 200 ERUs (out of 350 thought to exist) @ $5,000/each
From existing 0.09 Program ("PIF") ending 2032
Note: This is mostly residential collection lines not eligible for EDA.
Received in 2020. Work in progress.
Loan covered by extended 0.09 Program ending 2054
Includes design contingency.
Represents construction contingency amount.
This amount varies depending on number of ERUs. This estimate is for 350 ERUs.
Works out to $10,667 per ERU assuming 350 ERUs