It's a $1.8 mil water/sewer reconstruction. I think Public Works did the grant app. The Feds loan 100%, forgive 25%, and give very low and no interest 20 year loans for the rest. It's in the packet. There is a verbal commitment and a bid was accepted. If it works it will save Riverside in the neighborhood of $500K.
It's a good deal, but we still have to make the payments - probably about $75K a year for 20 years.