![]() ![]() ![]() ![]() For Allen, removing phosphorus-packed soft sediment from the lake bottom while over half of the phosphorus and nutrients causing the algae woes is still coming in from Firesteel Creek would render a dredging project at this time as “useless.” Judging by recent dredging discussions between the council, it revealed there is mixed support for the proposed lake project.Īmong the opponents is Council Vice President Dan Allen, who issued his stance against dredging in early September. That means five of the eight council members would have to approve the SRF loan application in mid-June. But due to rising interest rates – which are likely to continue climbing as the Federal Reserve looks to curb inflation – Everson said the city has lost out on a little over $300,000 in buying power due to the SRF loan rates going up.įor the project to advance, the council must approve the SRF loan application with a majority vote. The city is eyeing a 30-year fixed rate loan through the State Revolving Loan Fund (SRF) to fund the majority of the proposed project. ![]()
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