HomeMy Public PortalAboutResolution 2023-8 SRF Submission for Elevated Water StorageRESOLUTION: 2023-8
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF CRESTVIEW, FLORIDA, RELATING TO THE
FLORIDA DEPARTMENT OF ENVIRONMENTAL
PROTECTION (FDEP) STATE REVOLVING FUND
(SRF), ADOPTION OF THE ELEVATED WATER STORAGE TANK
PLANNING PROJECT, AND PROVIDING
FOR AN EFFECTIVE DATE
WHEREAS, The City Council of Crestview, Florida (The Council) hereby approves the
submission of an application for an SRF low -interest loan (the Loan) for the Crestview
Elevated Water Storage Tank Planning, hereby accepting the planning documentation and
meeting other purposes; and
WHEREAS, SW State Road 85 Bypass is currently under construction through mostly
undeveloped areas on the western side of the City of Crestview; and The City is projecting
residential and commercial growth along this new roadway upon its completion; and The City
currently does not have adequate water service in this area; and
WHEREAS, The City is pursuing the planning and design of an elevated water storage tank to
provide water storage capacity to supply water and fire protection to this area; and
WHEREAS, Florida Statutes provide for loans to local government agencies to finance the
planning of elevated water storage tanks; and
WHEREAS, Florida Administrative Code rules require authorization to apply for loans, to
establish pledged revenues, to designate an authorized representative; to provide assurances of
compliance with loan program requirements; and to enter into a loan agreement; and
WHEREAS, the State Revolving Fund loan priority list designates Project No. DW46074 as
eligible for available funding; and
WHEREAS, the City of Crestview, Florida, intends to enter into a loan agreement with the
Department of Environmental Protection under the State Revolving Fund for project financing.
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CRESTVIEW, FLORIDA THAT:.
The City Manager is hereby designated as the authorized representative to provide the
assurances and commitments that will be required by the SRF Process.
SECTION 1: The Mayor is authorized to:
1. Certify that this public hearing was held on March 13, 2023; and
2. Certify that the financial planning information discussed at the public hearing is correct
and that the City of Crestview has the capability to repay the loan; and
3. Certify that the project is in accordance with the City's Comprehensive Plan.
SECTION 2: The Mayor is further authorized to submit an application for an SRF loan for the
project(s) to the FDEP and to furnish such information as they may request in connection with
an application for the SRF loan, including assurances of financial capability to repay the loan.
SECTION 3: The Mayor is further authorized to execute any and all other necessary
instruments in connection with obtaining the SRF loan for the project.
SECTION 4: The net water and sewer system revenues, including reconnection fees, after
payments of all prior and senior liens, are pledged for the repayment of the loan.
SECTION 5: All Resolutions or part of Resolutions in conflict with any of the provisions of
this Resolution are hereby repealed.
SECTION 6: If any section or portion of a section of this Resolution proves to be invalid,
unlawful, or unconstitutional, it shall not be held to invalidated or impair the validity, force, or
effect or any other section or part of this Resolution.
Section 7. Effective Date
This Resolution shall take effect upon its approval and adoption by the City Council.
PASSED AND ADOPTED IN REGULAR SESSION THIS 13th DAY OF MARCH 2023.
APPROVED:
:f4
B'JB Whitten, Mayor
AT EST:
Maryanne
Q.)\11/4------6.----L-',......
ader, City Clerk
1
STATE OF FLORIDA
DEPARTMENT OF ENVIRONMENTAL PROTECTION
STATE REVOLVING LOAN PROGRAM
FOR
DRINKING WATER FACILITIES
LOAN APPLICATION
Florida Department of Environmental Protection
State Revolving Fund Program
Marjory Stoneman Douglas Building
3900 Commonwealth Boulevard
Tallahassee, FL 32399-3000
Form Application DW-1
Incorporated in 62-552.430(1)(a), F.A.C. Effective Date March 9, 2022
TABLE OF CONTENTS
Page
Number
LOAN APPLICATION
(1) SUBMITTAL 1
(2) COMPLETING THE APPLICATION 1
(3) ASSISTANCE 1
PART I - ADMINISTRATIVE INFORMATION
(1) PROJECT SPONSOR 1
(2) AUTHORIZED REPRESENTATIVE 1
(3) PRIMARY CONTACT 1
(4) ADDITIONAL CONTACTS 1
(5) PROJECT NUMBER 1
(6) INTERIM FINANCING 1
PART II - PROJECT INFORMATION
A. PRECONSTRUCTION PROJECT
(1) ACTIVITIES 2
(2) SCHEDULE 2
(3) COST 2
B. CONSTRUCTION PROJECT
(1) ACTIVITIES 2
(2) SCHEDULE 3
(3) COST 3
PART III - FINANCIAL INFORMATION
(1) PRINCIPAL 3
(2) TERMS AND REPAYMENT 3
(3) ANNUAL FUNDING LIMIT 3
(4) INFORMATION ON LIENS 3
(5) ACTUAL AND PROJECTED REVENUES 4
(6) AVAILABILITY OF PLEDGED REVENUES 4
(7) LOAN SERVICE FEE 4
PART IV - AUTHORIZATION AND ASSURANCES
(1) AUTHORIZATION 4
(2) ASSURANCES 4
PART V - SUPPLEMENTARY INFORMATION
SCHEDULE OF PRIOR AND PARITY LIENS 7
SCHEDULE OF ACTUAL REVENUES AND DEBT COVERAGE 8
SCHEDULE OF PROJECTED REVENUES AND DEBT COVERAGE 9
LIST OF ATTACHMENTS 10
Form Application DW-1
Incorporated in 62-552.430(1)(a), F.A.C. Effective Date March 9, 2022
LOAN APPLICATION
(1) SUBMITTAL. Submit the application and attachments to the Department of Environmental Protection, MS 3505, State
Revolving Fund Program, Marjorie Stoneman Douglas Building, 3900 Commonwealth Boulevard, Tallahassee, Florida
32399-3000. The application (and supporting documentation) may be submitted electronically to the Department's
Project Manager.
(2) COMPLETING THE APPLICATION.
(a) This application consists of five parts: (I) ADMINISTRATIVE INFORMATION; (11) PROJECT INFORMATION; (III)
FINANCIAL INFORMATION; (IV) AUTHORIZATION AND ASSURANCES; and (V) SUPPLEMENTARY
INFORMATION.
(b) All information provided on this application must be printed. Monetary amounts may be rounded.
(c) Forms and attachments to be submitted are denoted with italic print.
(3) ASSISTANCE. Completing this application may require information that can be obtained from the Drinking Water
State Revolving Fund Program staff. Please email SRF_Reporting@dep.state.fl.us for assistance in completing this
application.
PART I - ADMINISTRATIVE INFORMATION
(1)
PROJECT SPONSOR CITY OF CRESTVIEW, FLORIDA
Federal Employer Identification Number 59600095
DUNS Number
(2) AUTHORIZED REPRESENTATIVE (person authorized to sign or attest loan documents).
Name MICHAEL CRIDDLE Title DIRECTOR
Telephone 850-682-1560 -124 Email CRIDDLEM@CITYOFCRESTVIEW.ORG
Mailing Address 198 N WILSON STREET
CRESTVIEW, FLORIDA 32536
(3)
PRIMARY CONTACT (person to answer questions regarding this application).
Name GINA TOUSSANT Title FINANCE DIRECTOR
Telephone 850-682-1560-248 Email GINATOUSSAINT@CITYOFCRESTVIEW.ORG
Employer CITY OF CRESTVIEW
Mailing Address 198 N WILSON STREET
CRESTVIEW, FLORIDA 32536
(4) ADDITIONAL CONTACTS. If more than one additional person is to receive copies of Department correspondence, attach
the information (Attachment # ).
Name WENDY BUTTKE ACCOUNTANT II
Title
Telephone 850-682-1560-200 Email BUTTKEW@CITYOFCRESTVIEW.ORG
Employer CITY OF CRESTVIEW
Mailing Address 198 N WILSON STREET
CRESTVIEW, FLORIDA 32536
(5)
PROJECT NUMBER (listed on the Department's priority list).
DW46074
(6) INTERIM FINANCING. A local government project sponsor that has interim financing may be subject to certain
conditions regarding such financing.
Is the project currently being funded with interim financing?
Form Application DW-1
Incorporated in 62-552.430(1)(a), F.A.C.
Yes ❑X No
Page 1 of 9 Effective Date March 9, 2022
PART II — PROJECT INFORMATION
If you are applying for a planning or design loan for a project that will involve construction, complete only Subpart A below.
If you are applying for a loan to construct a project that is already planned and designed, complete only Subpart B below.
A. PLANNING OR DESIGN PROJECT
Information should be provided for each separate facility to be planned and designed as appropriate. For design/build projects
(not eligible for design loans) or those where multiple facilities, segments, or phases are involved, please attach information
for activities, schedule, and cost for each. (Attachment # )
(1) ACTIVITIES. Attach a brief description of the scope of planning and design activities to be financed by this loan.
Include a list of any engineering services to be performed. (Attachment #8 ) Are these activities the same as those
scheduled on the Request for Inclusion Form? ® Yes ❑ No. If "No", please explain. (Attachment # )
(2) SCHEDULE.
(a) Provide proposed completion dates for the items. (Please call Department staff to discuss time frames needed to complete
required tasks.)
Planning documentation 12/31/2023
Engineering design
Certification of site availability
Permitting
(b) Do you anticipate that an interlocal agreement with another party will be necessary to implement ❑ Yes ❑X No
the project? If "Yes", please explain. (Attachment # )
(c) Is this a design/build project? ❑ Yes ® No
(3) COST. Is the cost information submitted for the planning or design loan priority list current? If ® Yes ❑ No
"No", please explain and submit revised cost information using the appropriate page of the Request
for Inclusion Form. (Attachment # ) Note that the disbursable amount will be limited to the
priority list amount.
PLANNING OR DESIGN APPLICANTS PROCEED TO PART III.
B. CONSTRUCTION PROJECT
(1) ACTIVITIES.
(a) Attach a brief description of construction activities to be financed by this loan. Include a list of the contracts (by title)
corresponding to the plans and specifications accepted by the Department (Attachment # ).
Are these contracts the same as those scheduled on the Request for Inclusion Form? ❑ Yes El No
If "No", please explain. (Attachment # )
(b) Have any of the contracts been bid? El Yes El No
If "Yes", indicate which contracts have been bid. (Attachment # )
(c) Was planning or design for this project fmanced in another SRF loan? ❑ Yes ❑ No
If "Yes", give the SRF loan number.
(d) Does this project involve an interlocal agreement with other local governments or other entities? ❑ Yes ❑ No
If "Yes", attach a copy of the interlocal agreement. (Attachment # )
Is the interlocal agreement fully executed and enforceable? ❑ Yes ❑ No
Form Application DW-1
Incorporated in 62-552.430(1)(a), F.A.C. Page 2 of 9 Effective Date March 9, 2022
If "No", please explain (Attachment # ).
(2) SCHEDULE. (month and year)
(a) Anticipated notice to proceed for first construction contract.
(b) Anticipated completion of all construction contracts.
(3) COST. Is the cost information submitted for the priority list current? ❑ Yes ❑ No
If "No", please explain and submit revised cost information using the appropriate page of the Request for Inclusion Form.
(Attachment # ) Note that the disbursable amount will be limited to the priority list amount.
PART III - FINANCIAL INFORMATION
Estimates of the capitalized interest, interest rate, pledged revenue coverage, limitations on annual loan amounts for large
projects, applicability and amount of repayment reserves, amount of the loan service fee and any other information may be
obtained by contacting staff in the State Revolving Fund Management Section.
(1)
PRINCIPAL. The requested amount of the loan which does not include capitalized interest is
$ 50,000
Note that the disbursable amount will be limited to the priority list amount and must be consistent with the project
information provided under PART II of this application. Also note that the capitalized interest is an inexact estimate, and
it is subject to adjustment by the Department to reflect actual disbursement timing. The principal amount of the loan does
not include the loan service fee.
(2) TERMS AND REPAYMENT.
(a) Loans for planning and design shall be amortized over 10 years. Construction loans to local government project sponsors
are amortized over the lesser of useful life of the project or 20 years unless the project is to serve a small community
qualifying as financially disadvantaged. Construction loans to financially disadvantaged small communities may be
amortized over the lesser of useful life of the project or 30 years. Construction loans to non -governmental project sponsors
are amortized over the lesser of the useful life of the project or 20 years. Interest charges and principal are paid
semiannually.
What is the useful life of the project? 20 (years)
Over how many years would you like to amortize the loan? 20 (years)
(b) List all revenues that are to be pledged for repayment of this loan. IMPACT FEES /UTILITY COLLECTIONS.
(c) Pledged revenue receipts or collections by the project sponsor must exceed the amount of the repayments due to
the Department unless there are other collateral provisions. The excess revenue, or coverage, generally is 15% of
each repayment.
What coverage is proposed for the loan? 15 % (coverage percentage)
(d) Is any other financial assistance being applied to this project? El Yes ® No
If "Yes", please list. (Attachment # )
(3) ANNUAL FUNDING LIMIT. Large project funding (generally, loans in excess of $10 million) may be provided in
increments pursuant to the initial loan agreement and subsequent amendments.
(4) INFORMATION ON LIENS.
(a) Describe, if applicable, all debt obligations having a prior or parity lien on the revenues pledged to repay this loan.
(Attachment # ) For example: City Name, Florida, Water and Sewer System Revenue Bonds, Series 1996, issued
in the amount of $10,000,000, pursuant to Ordinance No. 93-104, as amended and supplemented by Ordinance No. 96-
156.
(b) Using the Part V, Schedule of Prior and Parity Liens, provide debt service information, if applicable, on each prior and
parity obligation.
Form Application DW-1
Incorporated in 62-552.430(1)(a), F.A.C. Page 3 of 9 Effective Date March 9, 2022
(c) For the listed obligations, provide a copy of the ordinance(s), resolution(s), official statement(s), or pages thereof, setting
forth the definitions, use of proceeds, debt service schedule, pledged revenues, rate covenants, provisions for issuing
additional debt, provisions for bond insurance, and debt rating. (Attachment # 07 ).
(d) Describe any other notes and loans payable from the revenues pledged to repay this loan. (Attachment # 1 & 21.
(5) ACTUAL AND PROJEC 1ED REVENUES.
(a) Complete the Part V, Schedule of Actual Revenues and Debt Coverage for the past two fiscal years.
(b) Complete the Part V, Schedule of Projected Revenues and Debt Coverage, demonstrating the availability of pledged
revenues for loan repayment.
(6) AVAILABILITY OF PLEDGED REVENUES. All sources must be supported by a written legal opinion. (Attachment
# 06 ) The opinion must address the following:
(a) Availability of the revenues to repay the loan.
(b) Right to increase rates at which revenues shall be collected to repay the loan.
(c) Subordination of the pledge if pledged revenues are subject to a prior or parity lien.
(7) LOAN SERVICE FEE. A loan service fee is assessed on each loan. The fee is not part of the loan. The fee along with
interest thereon will be deducted from the first available repayments after the final amendment to the loan agreement.
PART IV — AUTHORIZATION AND ASSURANCES
(1) AUTHORIZATION. Provide an authorizing resolution of the Applicant's governing body or other evidence of
authorization (Attachment # ) for the following:
(a) Pledging revenues to repay the loan.
(b) Designation of the Authorized Representative(s) to file this application, provide assurances, execute the loan agreement,
and represent the Applicant in carrying out responsibilities (including that of requesting loan disbursements) under the
loan agreement.
(2) ASSURANCES. The Applicant agrees to comply with the laws, rules, regulations, policies and conditions relating to
the loan for this project. Applicants should seek further information from the Drinking Water State Revolving Fund
Program staff as to the applicability of the requirements if the necessity for the assurances is of concern. Specifically,
the Applicant certifies that it has complied, as appropriate, and will comply with the following requirements, as
appropriate, in undertaking the Project:
(a) Assurances for capitalization grant projects.
1. Complete all facilities for which funding has been provided.
2. The Applicant is advised, pursuant to 40 CFR 35 Section 35.3575, that a number of Federal law, executive orders, and
government -wide policies can apply to your project or activity that is receiving Federal financial assistance. The
Applicant agrees to read those provisions regarding the application of Federal cross -cutting authorities (cross -cutters)
to determine their applicability to your specific project or activity.
(b) Assurances for other projects. Please note that Florida Statutes are available at http://www.leg.state.fl.us. They are also
available at the following physical address: Florida Department of State Division of Library and Information Services
R.A. Gray Building 500 South Bronough Street Tallahassee, Florida 32399-0250.
1. Chapter 161, Part I, F.S., "Beach and Shore Preservation Act" and Part III, "Coastal Zone Protection Act of 1985"
which regulate coastal zone construction and all activities likely to affect the condition of the beaches or shore.
2. Chapter 163, Part II, F.S., the "Local Government Comprehensive Planning and Land Development Regulation Act"
which requires units of local government to establish and implement comprehensive planning programs to control
future development.
3. Chapter 186, F.S., State and Regional Planning, which requires conformance of projects with Regional Plans and the
State Comprehensive Plan.
4. Chapter 253, F.S., "Emergency Archaeological Property Acquisition Act of 1988" which requires protection of
archaeological properties of major statewide significance discovered during construction activities.
Form Application DW-1
Incorporated in 62-552.430(1)(a), F.A.C. Page 4 of 9 Effective Date March 9, 2022
5. Chapter 258, Part III, F.S., which requires protection of components or potential components of the national wild and
scenic rivers system.
6. Chapter 267, F.S., the "Florida Historical Resources Act" which requires identification, protection, and preservation of
historic properties, archaeological and anthropological sites.
7. Chapter 287, Part I, F.S., which prohibits parties convicted of public entity crimes or discrimination from participating
in State -assisted projects and which requires consideration of the utilization of Minority Business Enterprises in State -
assisted projects.
8. Chapter 372, F.S., the Florida Endangered and Threatened Species Act which prohibits the killing or wounding of an
endangered, threatened, or special concern species or intentionally destroying their eggs or nest.
9. Chapter 373, Part IV, F.S., Florida Water Resources Act of 1972, which requires that activities on surface waters or
wetlands avoid adversely affecting: public health, safety, welfare, or property; conservation of fish and wildlife,
including endangered or threatened species or their habitats; navigation or the flow of water; the fishing or recreational
values or marine productivity; and significant historical and archaeological resources.
10. Chapter 380, Part I, F.S., Florida Environmental Land and Water Management Act of 1972 as it pertains to regulation
of developments and implementation of land and water management policies.
11. Chapter 381, F.S., Public Health, as it pertains to regulation of onsite wastewater systems.
12. Chapter 403, Part I, F.S., Florida Air and Water Pollution Control which requires protection of all waters of the state.
13. Chapter 582, F.S., Soil and Water Conservation Act which requires conformance with Water Management District's
regulations governing the use of land and water resources.
14. Governor's Executive Order 95-359, which requires State Clearinghouse review of project planning documentation
and intergovernmental coordination.
(c) Assurances for all projects. The loan recipient certifies that it is not listed on the governmentwide exclusions in the
System for Award Management (SAM), in accordance with the OMB guidelines at 2 CFR 180 that implement
Executive Orders 12549 (3 CFR part 1986 Comp., p. 189) and 12689 (3 CFR part 1989 Comp., p. 235), "Debarment
and Suspension."
I, the undersigned Authorized Representative of the Applicant, hereby certify that all information contained herein and in the
attached is true, correct, and complete to the best of my knowledge and belief. I further certify that I have been duly authorized
to file the application and to provide these assurances.
Signed this
/ 6Day of
Authorized Representative
Attachments
Form Application DW-1
Incorporated in 62-552.430(1)(a), F.A.C.
, 20 23
J - . �.�.e �A
(name typed or printed)
Page 5 of 9 Effective Date March 9, 2022
PART V — SUPPLEMENTARY INFORMATION
SCHEDULE OF PRIOR AND PARITY LIENS
(EXCLUDING SRF LOANS)
List annual debt service beginning two years before the anticipated loan agreement date and continue at least three
additional fiscal years. Use additional pages as necessary.
Identify Each Obligation
Coverage
Insured?
#1
ATT #2
%
#2
ATT #2
Yes No Yes No
#3
ATT #2
Yes No
Total Debt
Fiscal Annual Debt Service (Principal Plus Interest) Total Service Incl.
Year #1 #2 #3 Debt Service Coverage
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
20 $ $ $ $ $
Form Application DW-1
Incorporated in 62-552.430(1)(a), F.A.C. Page 6 of 9 Effective Date March 9, 2022
PART V — SUPPLEMENTARY INFORMATION
SCHEDULE OF ACTUAL REVENUES AND DEBT COVERAGE
(Provide information for the two fiscal years preceding the anticipated date of the SRF loan agreement.)
FY 2021 FY 2022
(a) Operating Revenues (Source)
CHARGES FOR SERVICES $7,574,230
$8,400,707
(b) Interest Income $3,728 $847
(c) Other Income or Revenue (Identify)
MISCELLANEOUS $16,304 $1,526,598
IMPACT FEES $312,200 $1,966,700
(d) Total Revenues $7,906,462 $11,894,852
(e) Operating Expenses (excluding
interest on debt,
and other non-cashptems)ion, $5,123,550 $10, 041, 006
(f) Net Revenues [(0 = (d) — (e)] $2, 782, 912 $1, 853, 846
(g) Debt Service (including any $2, 021, 018 $2, 021, 014
required coverage)
(h) Attach audited annual financial report(s), or pages thereof, or other documentation necessary to
support the above information. Include any notes or comments from the audit reports regarding
compliance with covenants of debt obligations having a prior or parity lien on the revenues pledged for
repayment of the SRF Loan. (Attachment # 3&4 )
(i)
Attach worksheets reconciling this page with the appropriate financial statements (for example,
backing out depreciation and interest payments from operating expenses). (Attachment # 3&4 )
(j) If the net revenues were not sufficient to satisfy the debt service and coverage requirement, please
explain what corrective action was taken. (Attachment # )
Form Application 1
Incorporated in 62-503.430(1)(a), F.A.C. Page 7 of 9 Effective Date March 9, 2022
PART V — SUPPLEMENTARY INFORMATION
SCHEDULE OF PROJECTED REVENUES AND DEBT COVERAGE
Begin with the fiscal year preceding first anticipated semiannual loan payment and continuing for at least three
additional years. Attach a separate page for previous State Revolving Fund loans. (Attachment # 01 )
(a) Operating Revenue
(b) Interest Income
(c) Other Income or Revenue
(identify)
IMPACT FEES $772,262 $803,153 $853,279 $868,690 $903,438
MISCELLANEOUS $605,749 $629,979 $655,178 $681,385 $708,641
$9,348,461 $9,722,400 $10,111,296 $10,515,748 $10,936,378
(d) Total Revenues
(e) Operating Expenses (excluding
interest on debt, depreciation, and
other non -cash items)
(f) Net Revenues (f = d - e)
(g)
Revenue (including coverage)
pledged to debt service, excluding
SRF loans
FY 2023 FY 2024 FY 2025 FY 2026 FY 2027
$7,957,044 $8,275,326 $8,606,339 $8,950,593 $9,308,617
$13,406 $13,942 $14,500 $15,080 $15,683
$5,459,193 $5,622,969 $5,791,658 $5,965,408 $6,144,370
$3,889,268 $4,099,431 $4,319,638 $4,550,341 $4,792,008
$1,032,742
1,036,025 1,034,917 1,036,582
902,184
(h) Revenue (including coverage) $1,122,729 1,426,598 $1,426,598 $1,426,598 $1,426,598
pledged to outstanding SRF loans
(i)
Revenue Available for this SRF
Loan [(i) = (f) — (g) — (h)]
$1,733,797 $1,636,808 $1,858,123 $2,087,161 $2,463,226
(j) Identify the source of the above information and explain methods used to develop the projections (Attachment # 1,2,4,5 ).
Include an explanation of any revenue and expense growth or other adjustments; for example, any rate increases,
service growth, inflation adjustments, expense adjustments reflecting the cost of operating additional facilities, or other
considerations.
(k) For construction loans, are the above projections consistent with the accepted financial L] Yes ❑ No
feasibility information?
If "No", please explain. (Attachment # )
Form Application 1
Incorporated in 62-503.430(1)(a), F.A.C.
Page 8 of 9 Effective Date March 9, 2022
PART V — SUPPLEMENTARY INFORMATION
LIST OF ATTACHMENTS
LIST OF ATTACHMENTS. This application requires the submittal of Attachments to provide supplemental
information. The application is not complete without the completed List of Attachments. Please list all
attachments that you are including with this application form.
Attachment
Schedule of Prior and Parity Liens - SRF 01
Schedule of Prior and Parity Liens - NON - SRF 02
2021 Income Statement from Annual Audit Reports 03
2022 Unaudited Financial Statement 04
2022-2027 Revenue & expenditure Projections 05
Legal Opinion 06
Resolution 07
Project Description 08
Additional Contracts 09
Form Application 1
Incorporated in 62-503.430(1)(a), F.A.C.
Number
Page 10 of 10 Effective Date March 9, 2022
SRF ATTACHMENT 01
2008 SRF 2010 SRF 2013 SRF WW460710 Total SRF Coverage 15%
2020 $ 460,345 $ 58,971 $ 456,970 $ 976,286 $ 1,122,729
2021 $ 460,345 $ 58,971 $ 456,970 $ 976,286 $ 1,122,729
2022 $ 460,345 $ 58,971 $ 456,970 $ 976,286 $ 1,122,729
2023 $ 460,345 $ 58,971 $ 456,970 $ 976,286 $ 1,122,729
2024 $ 460,345 $ 58,971 $ 456,970 $ 264,234 $ 1,240,520 $ 1,426,598
2025 $ 460,345 $ 58,971 $ 456,970 $ 264,234 $ 1,240,520 $ 1,426,598
2026 $ 460,345 $ 58,971 $ 456,970 $ 264,234 $ 1,240,520 $ 1,426,598
2027 $ 460,345 $ 58,971 $ 456,970 $ 264,234 $ 1,240,520 $ 1,426,598
2028 $ 460,345 $ 58,971 $ 456,970 $ 264,234 $ 1,240,520 $ 1,426,598
2029 $ 58,971 $ 456,970 $ 264,234 $ 780,175 $ 897,202
2030 $ 58,971 $ 456,970 $ 264,234 $ 780,175 $ 897,202
2031 $ 58,971 $ 456,970 $ 264,234 $ 780,175 $ 897,202
2032 $ 58,971 $ 456,970 $ 264,234 $ 780,175 $ 897,202
2033 $ 456,970 $ 264,234 $ 721,204 $ 829,385
2034 $ 456,970 $ 264,234 $ 721,204 $ 829,385
2035 $ 264,234 $ 264,234 $ 303,869
2036 $ 264,234 $ 264,234 $ 303,869
2037 $ 264,234 $ 264,234 $ 303,869
2038 $ 264,234 $ 264,234 $ 303,869
2039 $ 264,234 $ 264,234 $ 303,869
NON SRF ATTACHMENT 02
2015 W & S 2016 W & S 2021 BONDS 2020 Bonds Total non SRF Coverage 25%
2019 $ 282,081 $ 392,288 $ 674,369 $ 842,961
2020 $ 280,716 $ 388,288 $ 669,004 $ 836,254
2021 $ 279,351 $ 389,088 $ 50,193 $ 718,631 $ 898,289
2022 $ 282,986 $ 389,488 $ 74,837 $ 50,518 $ 797,828 $ 997,285
2023 $ 501,516 $ 169,488 $ 311,068 $ 50,671 $ 1,032,742 $ 1,290,927
2024 $ 499,916 $ 173,528 $ 311,783 $ 50,799 $ 1,036,025 $ 1,295,032
2025 $ 497,916 $ 172,448 $ 312,394 $ 52,159 $ 1,034,917 $ 1,293,646
2026 $ 500,516 $ 171,368 $ 312,901 $ 51,798 $ 1,036,582 $ 1,295,727
2027 $ 367,516 $ 170,153 $ 313,303 $ 51,213 $ 902,184 $ 1,127,730
2028 $ 474,316 $ 168,938 $ 313,600 $ 50,829 $ 1,007,683 $ 1,259,603
2029 $ 1,006,516 $ 172,723 $ 313,793 $ 51,268 $ 1,544,299 $ 1,930,374
2030 $ 1,001,431 $ 171,223 $ 313,882 $ 51,048 $ 1,537,583 $ 1,921,978
2031 $ 994,881 $ 169,723 $ 313,866 $ 1,478,469 $ 1,848,086
2032 $ 996,600 $ 173,223 $ 313,745 $ 1,483,568 $ 1,854,459
2033 $ 991,680 $ 171,504 $ 313,520 $ 1,476,704 $ 1,845,880
2034 $ 784,785 $ 313,188 $ 1,097,973 $ 1,372,466
2035 $ 788,680 $ 312,757 $ 1,101,437 $ 1,376,796
2036 $ 756,093 $ 312,218 $ 1,068,311 $ 1,335,389
Attachment 03
CITY OF CRESTVIEW, FLORIDA
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
PROPRIETARY FUNDS
YEAR ENDED SEPTEMBER 30, 2021
Operating Revenue
Charges for Service
Other
Total Operating Revenue
Operating Expenses
Personnel Expenses
Purchased Services
Repairs and Maintenance
Depreciation and Amortization
Materials and Supplies
Other Expenses
Total Operating Expenses
Operating Income
Mon -Operating Revenue and Expense
Interest Earnings
Interest Expense
Intergovernmental Revenue
Total Non -Operating Revenues
and Expenses
Income Before Operating Transfers
Transfers
Transfers in
Transfers (out)
Total Transfers
Change in Net Position
Net Position, Beginning of Year
Net Position, End of Year
7 . / P '
1 , v: C • i3 s
,
7 , a {
Utilities
Fund
Business -Type Activities
Enterprise Funds
Sanitation
Fund
$ 7,574,230 $ 4,295,561 $
328,505
7,902,735 4,295,561
2,018,267
1,250,853 3,895,996
221,891
1,481,866
319,539
1,313,000 22,651
6,605,416 3,918,647
Other
Funds
Total
387,735 $ 12,257,526
328,505
387,735 12,586,031
276,128
24,490
31,650
14,442
346,710
1,297,319 376,914
3,728
(670,699)
28,083
(666,971) 28,083
630,348 404,997
698,292
(625,820)
72,472
702,820
26,073,742
$ 26,776,562 $
1E
Y 2.44,
(100,000)
(100,000)
41,025
41,025
507,271
507,271
304,997 548,296
2,900,053
3,205,050 $ 548,296
i-
ng notes are an integral part of these financial statements.
26
2,294,395
5,146,849
246,381
1,481,866
351,189
1,350,093
10,870,773
1,715,258
3,728
(670,699)
28,083
(638,888)
1,076,370
1,205,563
(725,820)
479,743
1,556,113
28,973,795
30,529,908
Attachment 04
UTILITY FUND
SCHEDULE OF REVENUES AND EXPENDITURES
BUDGET AND ACTUAL
September 30, 2022
Amended Current Year to Date
Annual Annual Month FY 2022 Percent
Budget Budget Total Total of Budget
Revenues
Impact Fees* $ 430,000 $ 430,000 $ 1,172,200 $ 1,966,700 457.37%
Other Financial Assistance 1,408,271 1,408,271 - 1,408,271 100.00%
Charges for Services 8,173,687 8,173,687 660,431 8,400,707 102.78%
Miscellaneous Revenue 20,000 20,000 1,274 18,053 90.27%
Other Sources** 777,961 2,714,046 56,608 101,121 3.73%
Total Revenues $ 10,809,919 $ 12,746,004 $ 1,890,513 $ 11,894,852 93.32%
Expenditures
General & Administrative*** $ 5,217,175 $ 4,368,600 $ 431,547 $ 2,446,111 55.99%
Public Works Administration 747,080 703,778 70,488 683,918 97.18%
Finance - Utility Office 468,829 474,551 42,684 468,533 98.73%
Water 1,840,149 4,199,692 425,639 3,448,494 82.11%
Sewer 1,322,187 1,446,446 121,282 1,391,019 96.17%
Wastewater 1,214,499 1,552,937 30,707 1,602,931 103.22%
Total Expenditures $ 10,809,919 $ 12,746,004 $ 1,122,347 $ 10,041,006 78.78%
Note: This report reflects the revenues collected and expended in the month of September and year ending September 30, 2022 and what percent of the
annual budget that has been collected and expended All revenue and expenditure amounts are unaudited
*Majority of fees collected are attributed to the residential impact fees incurred by the Iron Horse Townhome development
** Budgeted cash carryforward will be adjusted as deemed appropriate at fiscal year-end
***Cost allocations to be made as part of the year-end closing procedures.
7
REVENUES
Water Revenue
Sewer Revenue
Other
Chary es For Services
Impact Fees
Total Charges For Services
Other Operating Misc.
Total Operating Revenues
Interest Income
Total Revenues
OP. EXPENSES
Less Depreciation
Less Non Operating
Total OP Expenses
Net Revenues
4% Increase for pro ections
FY2021 Adopted FY2022 Projected
FY2019 FY2020 Budget Revenue
$2,939,121.00 $3,087,936.00 $3,163,853.00 $3,290.407.12
$4,171,155.00 $4,219,436.00 $4,192,000.00 54.359.680.00
$773.00 $848.00 $881.92 S917.20
$7,111,049.00 $7,308.220.00 $7,356.734.92 S7.651.004.32
$599,501.00
$7,710,550.00
$20,376.00
$7,730,926.00
$20,351.00
$7,751,277.00
FY2019
$ 7,251,693.00
$717,201.00
$8,025,421.00
$ 714,000.00 $742,560.00
$8,070,734.92 $8,393,564.32
Attachment 05
FY2023 Projected FY2024 Projected FY2025 Projected FY2026 Projected FY2027 Projected
Revenue Revenue Revenue Revenue Revenue
53,422,023 43,558,904.34 $3,701,260.51 $3,849,310.94 54,003,283.37)
S4,534,067 4,715,429.89 $4,904,047.08 $5,100,208.97 $5,304,217.33 1
5954 $992.04 $1,031.72 $1,072.99 $1,115.91
57.957,044 $8,275,326.27 58,606,339.32 58,950,592.89 59,308,616.61j
S772,262 5803,152.90 $835,279.01
58,729„307 $9,078,479.17 $9,441,618.33
$868,690.17
$9,819,283.06
$903,437.781
$10,212,054.39
$189,010.00 $560,049.08 $582,451.04 $605,749 $629,979.05 $655,178.21 $681,385.34 5708,640.751
$8,214,431.00 $8,630,784.00 $8,976,015.36 59,335,056 59,708,458.21 $10,096,796.54 $10,500,668.40 510,920,695.14.
$11,918.00 $12,394.72 S12,890.51 S13,406 $13,942.37 $14,500.07 $15,080.07 515,683.27_
$8,226,349.00 $8,643,178.72 $8,988,905.87 59,348462.10 $9,722,400.59 $10,111,296.61 $10,515,748.48 $10,936,378.41
FY2020
$ 6,852,754.00
$ 5,561,008.00 $
$2,190,269.00
FY2021 Adopted FY2022 Projected FY2023 Projected FY2024 Projected FY2025 Projected FY2026 Projected FY2027 Projected
Budget Expense _ Expense Expense Expense Expense Expense
$ 5,432,386.00 $ 5,595,357.58 $ 5,763,218.31 $ 5,936,114.86 $ 6,114,198.30 $ 6,297,624.25 $ 6,486,552.98
$0.00 - 50.001 50.00 $0,00 50.00 $0.00!
It7Q; iao oat rt2nn me nal r624o Ina 2,f ,e», r.,n ,..t ($342,182.89)
5,120,842.00 $ 5,145,813.22 $ 5,300,187.62 $ 5,459,193.25 $ 5,622,969.04 $ 5,791,658.11 $ 5,965,407.86 $ 6,144,370.09
$3,105,507.00 $3,497,365.50 53,688718.25 $3,889,268.86 54,099,431.55 54,319,638.50 $4,550,340.62I $4,792,008.32