Milton receives loan for Federal Street water tower
Plans for a possible water tower on town-owned land on Federal Street in Milton are a little bit closer to becoming reality after the town was given preliminary approval for a $3.8 million loan for the project.
The water tower is one of three Milton projects the Water Infrastructure Advisory Council has approved for loans. However, the loans would need to be approved by residents via referendum. Town Manager Kristy Rogers said council will determine which projects to move forward with at its meeting at 6:30 p.m., Monday, Oct. 9, at Milton library, and discuss how the referendum would be structured.
Terms of all three loans are for 20 years at a 2% interest rate, with interest-only payments during construction.
The first and most expensive loan would be for a 500,000-gallon elevated water tower to provide additional storage to meet daily demand and as a backup if the town’s other two towers are out of service for maintenance or repair. Town officials have wanted the tower to prepare for future development, particularly for the Granary at Draper Farm project, which is scheduled to add 1,350 units to Milton over a 20-year buildout.
The town purchased the four acres of land on Federal Street in 2019 with the intention of using it for future water infrastructure projects. The first of those projects, a new well, is already out for bid, with additional plans for a new water treatment facility at the site. A water tower was also envisioned.
Also receiving loan approval is a $1.78 million water main replacement project that would replace 3,900 linear feet of existing mains underneath Carey, Walnut, Magnolia, Reed and Mill streets. The project would include replacing valves, abandoning the existing main and repaving the roadway. At Walnut and Mill streets, the town would upgrade to an 8-inch main, while at Carey Street, the upgrade would be from a 2-inch main to a 6-inch main.
Terms for the loan are the same as for the water tower loan.
Finally, the town was authorized for a $579,000 state loan for improvements to the Chandler Street water treatment facility. The project would include upgrading the plant’s electric system, generator, chemical feeds and testing equipment, and leveling the concrete floor. This project has been in the works for years; it was first discussed in 2019 with plans to do it in 2020, but the town held off until a similar water treatment plant was built at Shipbuilder’s Village, as town officials wanted to use the same specs on Chandler Street.
