August 2011, Vol. 66 No. 8
Newsline
Water and wastewater construction loans awarded
Tennessee Governor Bill Haslam and Department of Environment and Conservation Commissioner Bob Martineau announced recently that seven communities and one county have been approved to receive low-interest loans for water and wastewater infrastructure improvements.
“The State Revolving Loan Program is an important tool to assist local communities with current and future infrastructure needs,” Haslam said. “This mechanism provides support and keeps our communities moving forward.”
The SRF Loan Program provides low-interest loans that help communities, utility districts, and water and wastewater authorities finance projects that protect Tennessee’s ground and surface waters and public health. Loans are used to finance the planning, design, and construction of water and wastewater facilities.
Wastewater loans were announced recently for the following recipients:
City of Blaine (Grainger County) – The city of Blaine will receive $950,000 for a project that includes a new wastewater treatment plant and collection system. The project will be funded with a 20-year, $760,000 loan with an interest rate of 0.68 percent and $190,000 in principal forgiveness that will not have to be repaid.
Town of Greeneville (Greene County) – The town of Greeneville will receive more than $4.9M for a project that includes collection system expansion in the Andrew Johnson Highway and Whirlwind Road areas. The project will be funded with a 20-year, $3.9M loan with an interest rate of 2.62 percent and $986,481 in principal forgiveness that will not have to be repaid.
Roane County – Roane County will receive nearly $5.6M for a project that includes collection system extension in two areas – the Delozier Lane and Post Oak Valley Road area, and the Keylon Drive, Swan Pond and U.S. Highway 70 area of the Clinch River. The project will be funded with a 20-year, $4.5M loan with an interest rate of 1.77 percent and $1.1M in principal forgiveness that will not have to be repaid.
Drinking water loans were announced today for the following recipients:
City of Athens (McMinn County) – The city of Athens will receive $2M for a green project that includes stream bank restoration and water treatment plant upgrades. The project will be funded with a 20-year, $1.6M loan with an interest rate of 3.18 percent and $400,000 in principal forgiveness that will not have to be repaid.
City of Elizabethton (Carter County) – The city of Elizabethton will receive $3.8M for a project that includes two new source wells, water treatment plant and water lines replacements. The project will be funded with a 20-year, $3M loan with an interest rate of 1.99 percent and $760,000 in principal forgiveness that will not have to be repaid.
Traditional wastewater loans were announced today for the following recipients:
City of Clarksburg (Carroll County) – The city of Clarksburg will receive a $130,000, 20-year loan with an interest rate of 1.02 percent, for a project that includes collection system expansion in the Purdy Road, Haley Street and Clarksburg Road areas and associated new pump stations with treatment at the Huntingdon Highway 22-Bypass Lagoon.
City of Elizabethton (Carter County) – The city of Elizabethton will receive a $2.8M, 20-year loan with an interest rate of 1.84 percent for a project that includes replacement of sewer lines, rehabilitation of pumping station, and upgrade of wastewater treatment plant.
City of Morristown (Hamblen County) – The city of Morristown will receive a $1.6M, 20-year loan with an interest rate of 2.73 percent for a project that includes rehabilitation/upgrades to Witt 1, Witt 2 and Witt 3 pump stations.
City of Savannah (Hardin County) – The city of Savannah will receive a $1.33M, 20-year loan with an interest rate of 1.84 percent for a project that includes wastewater treatment plant upgrades, installation of a SCADA system, and the replacement and upsizing of the existing riverside pump station and adjoining 4,000 linear feet of force main.
Any local government interested in the program should contact the State Revolving Fund Loan Program, L&C Tower, 8th Floor, 401 Church Street, Nashville, TN 37243. For more information, visit www.tn.gov/environment/srf.
Comments