CITY OF WORCESTER PROPOSED LOAN ORDER

CITY OF WORCESTER PROPOSED LOAN ORDER The City Council of the City of Worcester at a meeting held in City Hall on January 13, 2026 voted to advertise the following on a roll call vote of Ten Yeas and No Nays: (2025 MSBA Accelerated School Repairs) ORDERED: That the City of Worcester appropriate the amount of Three Million Five Hundred Thousand Dollars and No Cents ($3,500,000.00) under LO-1466 for the purpose of paying costs of the Belmont Street Community School Roof Replacement at 170 Belmont Street, including the payment of all costs incidental or related thereto (the "Project"), which proposed repair project would materially extend the useful life of the school and preserve an asset that otherwise is capable of supporting the required educational program, and for which the City of Worcester may be eligible for a grant from the Massachusetts School Building Authority ("MSBA"), said amount to be expended under the direction of the Department of Public Facilities. To meet this appropriation, the City Treasurer & Collector, with the approval of the City Manager, is authorized to borrow said amount under and pursuant to M.G.L. Chapter 44, or pursuant to any other enabling authority. The City of Worcester acknowledges that the MSBA's grant program is a non-entitlement, discretionary program based on need, as determined by the MSBA, and any costs the City of Worcester incurs in excess of any grant approved by and received from the MSBA shall be the sole responsibility of the City of Worcester; provided further that any grant that City of Worcester may receive from the MSBA for the Project shall not exceed the lesser of (1) seventy-nine and fifty-eight hundredths percent ( 79.58%) of eligible, approved project costs, as determined by the MSBA, or (2) the total maximum grant amount determined by the MSBA, and that the amount of borrowing authorized pursuant to this vote shall be reduced by any grant amount set forth in the Project Funding Agreement that may be executed between the City of Worcester and the MSBA. ORDERED: That the City of Worcester appropriate the amount of Three Million Five Hundred Thousand Dollars and No Cents ($3,500,000.00) under LO-1466 for the purpose of paying costs of the Rice Square Elementary School Roof/Windows/Doors Replacement Project at 76 Massasoit Road, including the payment of all costs incidental or related thereto (the "Project"), which proposed repair project would materially extend the useful life of the school and preserve an asset that otherwise is capable of supporting the required educational program, and for which the City of Worcester may be eligible for a grant from the Massachusetts School Building Authority ("MSBA"), said amount to be expended under the direction of the Department of Public Facilities. To meet this appropriation, the City Treasurer & Collector, with the approval of the City Manager, is authorized to borrow said amount under and pursuant to M.G.L. Chapter 44, or pursuant to any other enabling authority. The City of Worcester acknowledges that the MSBA's grant program is a non-entitlement, discretionary program based on need, as determined by the MSBA, and any costs the City of Worcester incurs in excess of any grant approved by and received from the MSBA shall be the sole responsibility of the City of Worcester; provided further that any grant that City of Worcester may receive from the MSBA for the Project shall not exceed the lesser of (1) seventy-nine and fifty-eight hundredths percent ( 79.58%) of eligible, approved project costs, as determined by the MSBA, or (2) the total maximum grant amount determined by the MSBA, and that the amount of borrowing authorized pursuant to this vote shall be reduced by any grant amount set forth in the Project Funding Agreement that may be executed between the City of Worcester and the MSBA. A Copy. Attest: Nikolin Vangjeli, City Clerk PO 3049 January 16, 2026 January 16 2026 LNEO0440752