Accessibility Information

April 2019 Update

Financing


North 2  Financing


DEP State Revolving Fund (SRF) Loan
 
•Clean Water (CW)  - Wastewater and Irrigation
 
•Drinking Water (DW)  - Potable Water
 
•Currently  2 % to 3 % Interest Rate

 
20 Year SRF Loan Repayment

•SRF Clean Water (CW) = $136 Million
•Funds Wastewater and Stormwater
 
•SRF Drinking Water (DW) = $104 Million
•Funds Potable Water and Irrigation
 
•Total Estimated SRF Loan Amount = $240 Million 



The City offered three different payment options:
 
•Initial Prepayment Period - Please refer to the assessment notice sent by mail for individual assessment costs.

•Adjusted Prepayment Period - Please refer to the assessment notice sent by mail for individual assessment costs.

(If you are the property owner and did not receive an assessment notice in the mail, please contact Customer Billing Services at (239) 242-3851 and a staff member can assist you.)



•Amortized (Default Method) : - Billed via the tax bill annually

Estimated Annual Installments            EP Interest          CFEC Interest

Amounts - All 3 Utilities                       Rate: 5.0 %           Rate: 4.08%

Years 1-6 Annual                                   $1,202.00            $1,383.00
Amount*

Years 7-20 Annual                                  $1,202.00            N/A
Amount*

Estimated Total                                      $24,040.00         $8,298.00
Paid Over Term

*Annual payment includes principal, interest, colection costs and statutory dicount recovery costs.


Maximum EP Interest Rate: 5.0%
Maximum CFEC Interest Rate: 4.08% 


Hardship Program
 
•Method of deferral of annual payments

•Applicable to the amortized method only

•Based upon income qualification


  Must qualify annually