FY 2025 BUDGET BOOK - Flipbook - Page 68
➢ Compliance with Regulations: Regulatory agencies impose strict standards on
wastewater systems. The Coolidge Side Streets Sewer expansion ensures that Eustis
remains in compliance with all relevant environmental regulations. Avoiding
violations and associated fines is critical for the City’s on-going compliance and
exhibits fiscal and regulatory responsibility.
➢ Infrastructure Resilience: The Coolidge Side Streets Sewer & Water expansion
enhances the resilience of the City’s sewer and water infrastructure. It ensures that
the system can withstand the challenges posed by future growth and fire flows. A
reliable sewer and water system is essential for maintaining a high level of service
to our citizens.
➢ Support for Economic Development: A well-functioning sewer and water system is
essential for economic development. The Coolidge Side Streets Sewer and Water
Expansion facilitates economic growth by ensuring these services are readily
available for future housing.
➢ Long-Term Cost Savings: While there are upfront costs associated with the
expansion of the sewer and water system, it is an investment in the City’s long-term
financial sustainability. By proactively addressing the need for increased sewer and
water system capacity, the City can avoid more significant and costly repairs and
malfunctions in the future.
➢ Community Well-Being: Reliable sewer and water services are fundamental to public
health and well-being. The sewer and water expansion contributes to the overall
quality of life for Eustis residents by providing clean and safe drinking water,
increased fire flows and reliable sewer collection services. It ensures that residents
can continue to enjoy a high standard of living.
➢ Planning for Future Growth: With the expansion of the Coolidge Side Streets Sewer
and Water Systems, the City is positioning itself for sustainable growth. By
anticipating and addressing the sewer collection and potable water needs of a
growing population, the City has demonstrated forward-thinking urban planning
and infrastructure development.
The expansion of the Coolidge Side Streets Sewer & Water represents one phase of a
proactive and forward- looking investment in the City’s infrastructure, environment, and
community well-being. It supports growth, protects the environment, ensures
regulatory compliance, and contributes to the long-term financial stability of the City.
5. Downtown Land Sale or Loan Refinance: In FY 2019/20, the City obtained a five-year
balloon loan for three parcels located in the downtown area through the City’s CRA. The
intention was to develop a new business market area comprising of a food court,
shopping center, hotel, and lakeview apartments. The City is currently in negotiations
with potential developers. FY 2024/25 marks the fifth and final year of the loan term. The
City with either sell the downtown land to a developer or refinance the loan if an
agreement and contract negotiations with a developer are unsuccessful. This project
falls under the Competent and Effective Government Priority, specifically Goal #1
Strategic Priority 9 of the City’s Strategic Plan - Maintain the character and charm of
Eustis.
Land loan refinancing is a financial strategy that City may explore to refinance the
existing land loan. Favorable outcomes of refinancing may result in:
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