On Monday, November 28th at the Milan Community Center in Milan, the North Central Missouri Regional Water Commission hosted Kyle Wilkens, Missouri State Director of USDA Rural Development who announced that the NCMRWC will receive a $22,354,000 loan and a $23,400,554 grant through the Water & Waste Disposal Loan & Grant Program. This is in addition to the $8.3 Million that was announced in 2018 for Water Plant Enhancements and Bond Refinancing. The total amount of USDA RD funding, to date, is $53,771,554 consisting of $27,371,000 in a loan, and $26,400,554 in grants.
The Roy Blunt Reservoir is a multipurpose reservoir providing a 10-county regional water supply, flood control, and recreation. The NCMRWC is the local sponsor and owner of the reservoir. The Natural Resource Conservation Service is the federal sponsor.
The loan and grant package is the final piece to fully fund the local obligation. It will
- Refinance all existing bonds
- Pay for Water Plant enhancements
- Cover certain elements of the Roy Blunt Reservoir construction.
This final loan will be serviced by the NCMRWC through existing revenues and the State of Missouri through a cost-share agreement. Because of the Roy Blunt Reservoir, the State of Missouri funded the Multipurpose Water Resource Fund and passed a Joint Resolution to allow them to join the NCMRWC in servicing the loan. When new customers join the NCMRWC, the State’s share of the payment will go down by the replacement amount.
Harve Rhodes, Chairman of the NCMRWC stated, “I want to thank Kyle Wilkens and his team, as we’ve been working toward this day for years. He and his staff worked tirelessly. I’d be remiss, if I didn’t, again, thank Senator Roy Blunt and Congressman Graves who advocated for this grant and loan at the very highest level. This success speaks well of their reputations and effectiveness in Washington.”
Senator Roy Blunt stated, “I was just in Milan for a great event and had a chance to visit with Director Wilkens, Chairman Rhodes, and many local leaders who have worked for decades to get this reservoir built. I am incredibly grateful to Director Wilkens and his team, as well as to my friend USDA Secretary Tom Vilsack, whose support and dedication made today’s announcement possible. This reservoir will have a tremendous, lasting impact on families and local businesses. It’s been an honor to be a part of this effort.”
Brad Scott, General Manager of the NCMRWC stated, “This is the final puzzle piece in our long-term plan of finance. This should enable the NCMRWC to meet its local match-share obligations and to cover elements not covered by our federal sponsor, the NRCS. Barring unforeseen circumstances, this should fully fund the construction of the Roy Blunt Reservoir.”