City amends plant expansion financing

In News by Reporter NewsLeave a Comment

Pearland City Council on Monday approved a change that would increase the cost of a planned surface water treatment plant to provide a needed water meter change-out.

“This is great, because we’re getting a preferential rate,” Councilman Tony Carbone said.

The Texas Water Development Board provides financing for approved projects at below market fixed interest rates. The loan is expected to close in November or December.

The meter change-out will replace about 36,500 water meters and the current “drive-by” reading system with a wireless remote read system – a bonus since approximately two-thirds of the current meters have exceeded their expected life, staff reported.

The change-out project will increase the loan amount from the original $145 million to $159.5 million.

“We are finishing what was started by visionaries years ago,” Pearland Mayor Tom Reid said of the plant expansion. “We were concerned about a potential water shortage.”

The loan program is administered by the U.S. Environmental Protection Agency and the state.

In addition to the water meter project, the funds will cover preliminary and final design, testing and the first phase of construction for the surface water plant, to be located south of FM 518 in West Pearland.

Story by Nicole Jones

Print Friendly, PDF & Email