NORFOLK - Nearly four months after completing the new water treatment facility project in Norfolk, the town board will be closing their loan on Monday.
The town board held a special board meeting on Friday to finalize and edit the final payments.
The original budgeted amount for the project was $2,550,000, but according to the Water System Improvement Project Resolution document, the final project cost is $2,464,743.83.
The document also states that the bond counsel fees total $2,288.75 rather than the initial $5,000 budgeted amount, and the local attorney fees add up to $818.75, instead of the original $5,000.
Because the cost came in lower than expected, board members de-obligated $85,256.17 from the total project cost.
We had to take a bond anticipation note to cover the cost and this is part of the process to revert to USDA funding and pay off the bond anticipation note. A volume of paperwork needs to be done when you deal with the federal agency especially, and thats what we basically did at the last meeting. This is just because some of the numbers were under budget and USDA required a resolution and were closing the loan Monday, so thats why this needed to be done so quickly, Town Supervisor Charles Pernice said.
Aaron B. Jarvis, principal engineer at Tisdel Associates, an engineering firm, said he was very satisfied with the project being officially wrapped up and on top of that, under the original budget.
A lot of necessary work was completed and it was done $85,000 under the budget, Mr. Jarvis said.
The facility includes new wells and a water treatment plant on Sober Street. The plant is equipped with new error-response and pumping technology and is more efficient in fixing possible problems in the pumping and treatment of ground water.