Seaside City Manager Mark Winstanley announced a plan to borrow $5 million to pay for the city’s new water tank in the Southeast Hills.
The city will finance the storage tank, designed to serve the new high school and middle school campus located on land donated by Weyerhaeuser Co. to the Seaside School District in 2016. In exchange, the school district would deed the 3-acre reservoir site to the city for $1.
“The only thing we’re talking about with the city is the land where the tank will sit on,” Winstanley said in December. “We’re hoping the school district will virtually donate that land.”
The city plans to borrow $5 million from the state’s Infrastructure Finance Authority, with the additional $1 million tank cost to come from the city’s system development fund.
Along with the tank, the city will seek easements across school district property in the Southeast Hills where infrastructure may be needed for future development.
About $1 million of sewer upgrades and more than $1 million in road upgrades are also planned, bringing the city’s investment to about $9 million.
Once the reservoir is built, older pump stations currently serving the area — including nearby communities like Sunset Hills and Whispering Pines — will be decommissioned. Winstanley said he anticipates the tank will be in service by the school’s opening in 2020.
For now, the next step is with the state’s infrastructure loan agency. “We’ll sign loan documents, then the money’s made available to us on a reimbursement basis.”