ROSWELL NEW MEXICO
AGENDA ITEM ABSTRACT
AGENDA ITEM ABSTRACT
Item No. 24.
Regular City Council Meeting
- Meeting Date:
- 12/12/2024
COMMITTEE:
Finance
CONTACT:
Elizabeth Nulf
CHAIR:
Robert B. Corn
ACTION REQUESTED:
Ordinance 24-23: authorize to advertise to hold a public hearing on proposed Ordinance 24-23 for emergency loan funding from the New Mexico Environment Department for sewer repairs required after the historical flooding disaster in October 2024. (Corn/MacCornack)
BACKGROUND:
Initiated by: James MacCornack
New Mexico Environment Department has offered City of Roswell an emergency loan to assist with funding sewer repairs that were required after the October 2024 flooding event. NMED has offered $1,040,000 in funding that would be repaid when the City receives FEMA reimbursement for disaster expenses.
New Mexico Environment Department has offered City of Roswell an emergency loan to assist with funding sewer repairs that were required after the October 2024 flooding event. NMED has offered $1,040,000 in funding that would be repaid when the City receives FEMA reimbursement for disaster expenses.
FINANCIAL CONSIDERATION
New Mexico Environment Department would provide $1,040,000 to assist with sewer repairs caused by flood disaster. City would repay once FEMA reimbursement is received.
LEGAL REVIEW:
Loan documents have been submitted to City Attorney for review.
BOARD AND COMMITTEE ACTION:
Infrastructure Committee recommended approval (5-0) at their meeting on 11/18/24 to refer to Finance. Finance Committee on 12/5/2024 voted (4-0) to recommend approval to December 2024 City Council.
STAFF RECOMMENDATION:
Proceed as presented.