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Silver Lake looks at additional infrastructure financing options

Submitted by admin on Wed, 02/24/2021 - 1:21pm
By

The city of Silver Lake continues to move forward with proposed infrastructure improvements and is looking at the best options to pay for them.
Short Elliot Hendrickson Inc. (SEH), the city’s engineering firm, submitted a 400-plus page preliminary engineering report and environmental review to the USDA-Rural Development in November 2020 and has been working with USDA to answer any questions about the report. The city is waiting on approval and grant funding information for the proposed $27 million project. Results from the agency on the project are expected in March.
At its meeting Tuesday, Feb. 16, the city council heard of additional funding options through the state legislature bonding bills. Should the city choose to pursue state bond funding, it would need to submit all information by June for consideration during the 2022 legislative session.
Seeking bond funding from the state would push the project timeline out by one year from a start date of 2021 to 2022.

(For the complete story, see the Feb. 24 print edition of The Chronicle.)