More than $15 million in water loans awarded to TN counties - WSMV Channel 4

More than $15 million in water loans awarded to TN counties

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NASHVILLE, TN (WSMV) -

Four communities in Tennessee, including three counties in the mid-state, were approved to receive more than $15 million in low-interest loans for water and wastewater infrastructure improvements.

According to a news release from the state Department of Environment and Conservation, the State Revolving Fund 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 help pay for the planning, design and construction of water and wastewater facilities, according to state environment officials.

The city of Camden will receive $2 million for a green project that includes the replacement of water meters. State officials said the project will be funded with a 20-year, $1.6 million loan with an interest rate of .72 percent and $400,000 in principal forgiveness that will not have to be repaid.

The city of Fayetteville will receive $972,360 for a project that includes infiltration inflow corrections at the Tanyard Branch, Laten Bottom and Winchester Highway interceptors and system-wide, including storm water cross-connection elimination. The project will be funded with a 20-year, $732,187 loan with an interest rate of 1.17 percent and $240,173 in principal forgiveness that will not have to be repaid.

In addition, Fayetteville will receive an additional $4.3 million for a project that includes infiltration inflow corrections for sewer rehabilitation at the Liberty, Pitts, Tanyard Branch, Winchester Highway and Laten Bottom facilities, in addition to other system-wide efforts. The project will be funded with a 20-year, $3.87 million loan with an interest rate of 1.17 percent and $430,000 in principal forgiveness that will not have to be repaid.

Drinking water loans were also announced for the cities of Camden and Lebanon.

The city of Camden will receive $1.25 million for a project that includes waterline relocation along Highway 70. The project will be funded with a 20-year, $1 million loan with an interest rate of 0.72 percent and $250,000 in principal forgiveness that will not have to be repaid.

The city of Lebanon will receive $2.5 million for a project that includes water treatment plant improvements at its disinfection by-products facility. The project will be funded with a 20-year, $1.75 million loan with an interest rate of 1.29 percent and $750,000 in principal forgiveness that will not have to be repaid.

A traditional wastewater loan was also announced for Camden. The city will receive a $1.85 million, 20-year loan with an interest rate of 0.72 percent for a project that includes wastewater treatment plant improvements for secondary treatments.

A traditional drinking water loan was also announced for Lebanon. The city will receive a $1.2 million, 20-year loan with an interest rate of 1.29 percent for a project that includes water treatment plant improvements at its disinfection by-products facility

Additional information about the SRF Loan Program may be found online at www.tn.gov/environment/srf.

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