Financing
DEP State Revolving Fund (SRF) Loan
•Clean Water (CW) - Wastewater and Irrigation
•Drinking Water (DW) - Potable Water
•Currently 2 % to 3 % Interest Rate
20 Year SRF Loan Repayment
SRF Clean Water (CW) = $136 Million
•Funds Wastewater and Stormwater
SRF Drinking Water (DW) = $104 Million
•Funds Potable Water and Irrigation
•Total Estimated SRF Loan Amount = $240 Million
The City offered three different payment options:
•Initial Prepayment Period - Please refer to the assessment notice sent by mail for individual assessment costs.
•Adjusted Prepayment Period - Please refer to the assessment notice sent by mail for individual assessment costs.
(If you are the property owner and did not receive an assessment notice in the mail, please contact Customer Billing Services at (239) 242-3851 and a staff member can assist you.)
•Amortized (Default Method) : - Billed via the tax bill annually
Estimated Annual Installments EP Interest CFEC Interest
Amounts - All 3 Utilities Rate: 5.0 % Rate: 4.08%
Years 1-6 Annual $1,202.00 $1,383.00
Amount*
Years 7-20 Annual $1,202.00 N/A
Amount*
Estimated Total $24,040.00 $8,298.00
Paid Over Term
*Annual payment includes principal, interest, collection costs and statutory discount recovery costs.
Maximum EP Interest Rate: 5.0%
Maximum CFEC Interest Rate: 4.08%
Hardship Program
•Method of deferral of annual payments
•Applicable to the amortized method only
•Based upon income qualification
Must qualify annually