September 8, 1997
Woodinville Water District awarded loan
NW News Staff
The Woodinville Water District has been notified that the Public Works Board has recommended Woodinville Water District be awarded a Public Works Trust Fund Construction Loan for the 144th Ave. NE Sewer Replacement Project. Final approval will come later this year when the State Legislature and the Governor approve the Public Works Board's recommendations. The actual loan agreement will be ready for execution in April, 1998.
Public Works Trust Fund Construction Loans are low-interest loans (from 1% - 3%), funded by the State of Washington, for public works' projects which have been demonstrated to be critical to the public's health and safety. This is the third time Woodinville Water District has applied for and received a loan. This loan is in the amount of $312,130, which represents approximately 70 percent of the construction cost of the 144th Ave. NE Sewer Replacement Project. The district's loan will be at a rate of one percent, and will be payable over a 10 year period.
According to Ken Pick, the district's utility planning engineer and author of the district's application, the project will consists of replacing approximately 3,000 feet of concrete sewer pipe, manholes, and connections which have been damaged by acidic sewer discharges. The district plans to construct this project during the summer of 1998.