BDD Construction
BDD Project Costs
BDD Project Budget (In millions of dollars)
Board Engineer/Procurement/Contract Oversight |
$4.03 |
Acquisition of Permits & Easements |
0.76 |
PNM & Utilities |
3.15 |
Legal and Administration |
1.53 |
Design-Build Contract Amount |
181.52 |
Design-Build Taxes |
12.28 |
Other Project Costs |
6.34 |
Contingency Reserves |
6.73 |
TOTAL |
$ 216.34 |
- Las Campanas’ share of construction costs - |
11.24* |
- Grants and Low-Interest Loans Received - |
17.45** |
Total remaining cost |
$187.65** |
The City and County will continue to seek state and federal funding assistance to help defray BDD Project construction costs. * The City of Santa Fe and Santa Fe County will split project construction costs, minus the share paid by Las Campanas. The City is expected to pay for its share through cash reserves, increased water rates, a dedicated quarter-cent gross receipts tax, a low-interest loan from the State drinking water revolving fund and City bond proceeds. The County is expected to pay its share of construction costs through cash reserves, cash from City/County regional gross receipts taxes and County bond proceeds. ** Las Campanas receives no ($0) benefit from federal and state grants and is paying for its share of construction of the BDD raw water facilities in cash. |
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Grants & Low-Interest Loans
Grants
- $3.2 million grant - State (Water Trust Board) 2009
- $250,000 Federal 2008
- $4 million State in 2007
- $2 million State in 2006
- $1.8 million State in 2005
- $3.4 million State in 2004
- $2 million State in 2003
$17.45 million to date
Low-Interest Loans
- $800,000 low-interest loan - State (Water Trust Board) 2009
- $15 million State 2004 loan (2% over 20 years)
$15.80 million to date
Who Pays for the BDD Project
The estimated $216.3 million construction cost of the BDD Project is being paid for as follows:
Las Campanas’ share for raw water facilities is $11.24 million. Las Campanas does not benefit from federal and state grants or low-interest loans and is paying for its share of construction of the BDD Project raw water facilities in cash.
The City of Santa Fe and Santa Fe County are each paying 50% each of remaining construction costs, less $17.45 million received in low-interest loans and federal and state grants, which works out to $93,825 each, or $187,650 total.
The City is paying for its share of BDD construction costs with:
- Cash reserves
- Increased water rates
- Dedicated quarter-cent gross receipts tax
- Low-interest loan from State drinking water revolving loan fund
- City bond proceeds
The County is paying for its share of BDD construction costs with:
- Cash reserves
- Cash from joint City/County regional gross receipts taxes
- County bond proceeds
Once the BDD Project is operational, each partner will pay a proportional amount for the share of water used.