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29 FINANCIAL IMPACTS <br />3o The estimated engineering and construction cost for this project is $693,000. Staff proposes this project <br />31 be funded through the loans available from the PFA. The PFA intends to provide small base grants to <br />32 all eligible projects, with additional grant funds potentially available based on affordability criteria. For <br />33 most projects, the majority of project financing will be in the form of low interest loans with discounts <br />34 from market rates as provided in PFA rules. <br />35 STAFF RECOMMENDATION <br />36 Staff recommends approval of a resolution for the Minnesota Public Facilities Authority application for <br />37 the Drinking Water Revolving Fund. <br />38 REQUESTED COUNCIL ACTION <br />39 Approval of a resolution for the Minnesota Public Facilities Authority application for the Drinking <br />40 Water Revolving Fund. <br />Prepared by: Kristine Giga, Civil Engineer <br />Attachments: Resolution <br />Page 2 of 2 <br />