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Request for Action <br />To <br />Item Number <br />Mayor and Ci T Council <br />4.6 <br />Agenda Section <br />Meeting Date <br />Prepared by <br />Consent <br />October 19, 2020 <br />Suzanne Fischer, Community Development Director <br />Item Description <br />Reviewed by <br />Ordinance Amendment: Authorize Loans for <br />Peter Beck, City Attorney <br />Repair or Replacement of Private Subsurface <br />Reviewed by <br />Sewage Treatment Systems <br />Cal Portner, City Administrator <br />Action Requested <br />Approve, by motion, an ordinance authorizing loans for the repair or replacement of private subsurface sewer <br />treatment systems. <br />Background/Discussion <br />At the October 5, 2020, meeting, Council approved an ordinance amendment authorizing loans for the repair or <br />replacement of private subsurface sewer treatment systems (SSTS). <br />The attached ordinance amendment allows the city to function as a `pass -through' lender for the Rolling Hills <br />Homeowners Association SSTS project. Project costs will be assessed to the 28 properties over a 10-year period <br />with an interest rate of 1.5%. Residents have the option to prepay the assessment if desired. <br />Financial Impact <br />N/A <br />Mission/Policy/Goal <br />The Elk River Mission Statement cites working with citizens to develop a sustainable and prosperous community <br />for all to live, work and play. <br />Attachments <br />■ Amended Ordinance 78 to authorize loans for the repair or replacement of private SSTS systems <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires pi ospei ly. <br />M <br />TUREJ <br />Updated.• August 2020 <br />