From The Lamar Ledger (Chris Frost):
The Lamar City Council authorized Mayor Roger Stagner to sign the Lamar Main Street Water Distribution Water Replacement Loan Application from the Colorado Drinking Water Revolving Fund during the Monday, Nov. 9, City Council meeting.
As part of the Colorado Department of Transportation (CDOT) Main Street Resurfacing project, the city plans on replacing 21,000 linear feet of water main.
The city has made application for the planning stage of the project, Public Works Director Pat Mason said, which is a $112,00 Department of Local Affairs (DOLA) loan.
The total cost of the project is $3,246,800. The loan for the revolving fund is for $1,612,800 as matching funds. The loan will span 30 years and have a zero percent interest rate.
“There’s a chance we may be able to get some grant funding that we can use as part of this match,” Treasurer Kristin McCrea said. “In the application process we did the maximum for now because that was our guarantee. There still is a lot of discussion going on, so we went ahead and applied for what we would need to match.”