According to Article 5 Financing and Performance of the Interlocal agreement between the CRA/City and ECUA that was approved by City Council April 2007:
“…if the final actual Costs of the Project (Demolition of the Main Street Plant) are actually less than $19,500,000, the subsequent Agency (CRA) Payments shall be reduced such that the total of the Agency payments do not exceed the actual Costs of the Project.”
So the CRA funds are for the demolition of the downtown plant. If those costs come in lower than $19.5M, then CRA pays less to ECUA.
