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Water Projects Summary • Completed! BAN renewed for $987,000 after 1st principal Water Tank Refurbishment payment in October 2024 CDBG Work – Boston State Rd • Complete! Final payment issued in 2024 • Bid Awarded for $2,415,741 in August 2024 • BAN Issued October 2024 for $2,771,000 Phase 1 – District 1 Waterlines ($2,415,741 construction + $355,259 engineering costs) • Construction to start late 2024 / early 2025 • Updated engineering cost estimate in 2023 Phase 2 – District 1 Waterlines • Revised the Bond Resolution in 2023 & Pump Station Repairs • Applied for WIIA funding for the 4th time in 2024 • Updated engineering cost estimate in 2023 Phase 3 – District 2 Waterlines • Revised the Bond Resolution in 2023 • Applied for WIIA funding for the 4th time in 2024 • Options – Full town / just current districts • Options – Unit Based or Ad Valorem • Current Debt: (Dist. 3 Bonds + Water Tank BAN) $ 4,654,940 Water District Consolidation & • Anticipated Debt (Phase 1-3): $15,653,466 Buildout Options • Buildout – District 2: $11,310,000 • Buildout – South Central: $12,560,000 • Buildout – Southeast: $ 6,600,000 169