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By LeAnn R. Ralph
COLFAX — The Colfax Village Board has approved interim financing in the amount of $630,000 for the village’s share of the river bank stabilization project at an interest rate of 3.56 percent with Dairy State Bank on a 10-year loan.
In the event Colfax does not receive Community Development Block Grant funding to cover the village’s share of the U.S. Army Corps of Engineers $1.7 million river bank stabilization project to protect the wastewater treatment lagoons from washing out into the river, the village must arrange for interim financing to cover the village’s share, said Lynn Niggemann at the Colfax Village Board’s April 22 meeting.
The village has contracted with CBS Squared to apply for $630,000 in CDBG funds to cover the village’s share of the project.
The grant application is due May 17.
The Colfax Village Board must demonstrate that the village is ready, willing and able to pay the village’s share of the river bank project, Niggemann said.
Colfax qualifies for CDBG money now because the U.S. Department of Housing and Urban Development recently reassessed income guidelines, and the village now qualifies as low to moderate income.
The Red Cedar River has been gradually eroding the banks near the wastewater treatment lagoons, putting the lagoons in danger of washing out into the river if there is a flood or a torrential rain storm.
Although there is no guarantee the village will receive the grant, being ready to move forward on the project will give the village a better score on the grant application, Niggemann said.
The Colfax Village Board unanimously approved the resolution authorizing a commitment to matching funds for the river bank project with interim financing in the amount of $630,000 from Dairy State Bank.
According to information from Sean Lentz of Ehlers and Associates, the village’s financial consultant, Colfax has a combined total from the sewer and water utility of $172,392 available for debt service payments if needed.
According to the resolution, the Army Corps of Engineers will provide $1.11 million toward the project.
The Colfax Village Board also unanimously approved the project partnership agreement with the Department of the Army for the Colfax wastewater treatment lagoons project.
In other business, the Colfax Village Board:
• Approved a temporary Class “B” and temporary “Class B” liquor license for the Colfax Municipal Building Restoration Group from April 23, 2019, to October 22, 2019, for various events at the Colfax Municipal Building auditorium.
• Approved a temporary Class “B” and temporary “Class B” liquor license for the Colfax Softball Association from May 1, 2019, to October 31, 2019, for tournaments at Tom Prince Memorial Park.
• Approved a transient merchant license for Alvin Lu, China Taste Food Truck, April 1 through June 30, 2019, and July 1 through September 30, 2019, for the parking lot at Kyle’s Market.
• Approved a bartender operators license for Braana Stene from April 23, 2019, to June 30, 2019. Stene is employed at the Blind Tiger.
• Approved a sponsorship request from the Colfax Fair Board to pay for Porta-potties at the Colfax Free Fair. The fair board will select the vendor.
• Approved purchasing a Trueline Striper model battery-powered pavement and concrete striper with a five gallon paint tank at a cost of $1,998. “The old sprayer is about shot,” said Rand Bates, director of public works. The existing sprayer was repaired three years ago, “but now it’s shot again,” he said. The existing paint striper uses air tanks that the department of public works obtains from the fire department; the new striper is self-contained, and one charge of the air tank lasts about 60 hours, he said.
• Approved Scott Gunnufson as the village board member to take the Board of Review training.
• Approved rescheduling the second meeting in May from May 27, Memorial Day, to Tuesday, May 28.