Update, Nov. 19 at 7:43 p.m.: The City Council voted Thursday, Nov. 19, to approve loan documents.
Original story: Flowery Branch is looking to take out a $5.7 million, 20-year loan for a new water well system as part of a larger infrastructure effort, with residents helping foot the overall bill through higher water and sewer rates
Residential growth is putting pressure on the city to make the improvements, according to a city document about the project.
Flowery Branch City Council is set to vote Thursday, Nov. 19, on whether to approve loan documents.
A monthly payment schedule will be set after “the projects are complete, because the city may draw down less than the entire amount awarded,” according to the document.
The interest rate is 0.99% on the loan, which is being financed through the Georgia Environmental Finance Authority.
“The loan qualifies for a reduced interest rate because a portion of the project is a conservation activity,” according to the finance agency.
The project schedule calls for the work to be completed by June 2024.
Overall, Flowery Branch is pushing sewer and water projects totaling $28 million to keep up with rapid growth.
The $23 million sewer work includes an expansion of the city's water reclamation plant. “A new discharge line to Lake Lanier will also be built but is not a part of the current design contract,” according to a city document.
The $5 million water work includes an expansion of the city's water supply and distribution, acquisition of two wells owned by the State of Georgia, new treatment facilities in a new well house, well pumps and distribution system pumps, improvements to the existing well system, new system storage, and various water line improvements and extensions.
Flowery Branch has raised rates the past three years to help pay for water and sewer improvements being made to keep up with growth. Earlier this year, rates were increased 5% for water and 7% for sewer.
What: Vote to approve $5.7 million loan for water system
When: 6 p.m. Thursday, Nov. 19