IBank Loan Profile: City of Laguna Beach

City of Laguna Beach

LOCATION: Laguna Beach, CA

AMOUNT ISSUED: $7.5 million – ISRF

DATE ISSUED: June 8, 2022

ABOUT: The City of Laguna Beach will use the funds for a project that will protect the health of residents, help keep beaches open for 6 million beachgoers each year, and help prevent sewer spills into the ocean with Phase One of the Six Wastewater Systems Project. The series of six projects is designed to reduce the risk of sewer spills and increase the reliability of the sewer system. This first phase will allow the city to upgrade the collection system. Phase two will replace a portion of a pressurized sewer pipeline known as the North Coast Interceptor in Aliso Canyon. The project will also increase reliability of the wastewater treatment plant and replace parts that are at the end of their useful life, having been installed 30 years ago. The project is expected to create 35 jobs during the construction period.