Tennessee Awards $22 Million in Water, Wastewater Construction Grants
The Clean Water State Revolving Fund Loan Program has awarded more than $1.8 billion in low-interest loans since its inception in 1987, while Tennessee's Drinking Water State Revolving Fund Loan Program has awarded more than $300.5 million in low-interest loans since its inception in 1996.
Tennessee Gov. Bill Haslam and Tennessee Department of Environment and Conservation Commissioner Bob Martineau announced that two communities, one utility district, and a water authority have been approved to receive more than $22 million in low-interest loans for water and wastewater infrastructure improvements. They made the announcement Aug. 17.
"The State Revolving Fund Loan Program helps citizens enjoy a better quality of life by assisting communities with current and future infrastructure needs for improved environmental health," Haslam said. The Clean Water State Revolving Fund Loan Program has awarded more than $1.8 billion in low-interest loans since its inception in 1987, while Tennessee's Drinking Water State Revolving Fund Loan Program has awarded more than $300.5 million in low-interest loans since its inception in 1996.
"Clean water is the lifeblood of our communities," said Martineau. "Investments in our drinking water are essential to maintaining environmental and public health."
Communities, utility districts, and water and wastewater authorities can get loans through the program with lower interest rates than most can obtain through private financing. Interest rates for loans can vary from zero percent to market rate, based on each community's economic index. Loans utilizing EPA grant funds can include a principal forgiveness component.
TDEC administers the SRF Program in conjunction with the Tennessee Local Development Authority. EPA provides grants to fund the program and the state provides a 20 percent match.
Three wastewater loans they announced are:
- Hallsdale-Powell Utility District (Knox County) will receive $1 million for the Beaver Creek Interceptor Improvement Project, which includes the replacement of approximately 11,500 linear feet of 36-inch diameter interceptor sewer with a new 48-inch diameter interceptor sewer and new manholes.
The town of Troy (Obion County) will receive $625,725 for an Infiltration & Inflow Corrections and Collection System Rehabilitation project to be funded with a 20-year, $531,866 loan with an interest rate of 0.81% and $93,859 in principal forgiveness that will not have to be repaid.
The Water Authority of Dickson County (Dickson County) will receive $1,340,185 for a water meter replacements project. The proposed new water meters will be automatic reading meters; the project will be funded with a 20-year, $268,037 loan with an interest rate of 1.03% and $1,072,148 in principal forgiveness that will not have to be repaid.
The Hallsdale-Powell Utility District and the Water Authority of Dickson County also receive additional money for their projects.
Two drinking water loans were announced:
- The city of Paris (Henry County) will receive $1 million for a water treatment plant improvements project (Phase I) and also $750,000 for those improvements and a water tank rehabilitation.
- The town of Troy will receive $699,950 for water system improvements.