North Webster Closes on $3.5M Loan
July 28, 2016 at 4:25 p.m.
By Staff Report-
The low-interest loan to fund mandated system improvements is through the Indiana Finance Authority’s Clean Water State Revolving Grant Loan Program, the announcement states. The town estimates it will save $642,150 in interest over the life of the loan by using the loan program instead of securing a traditional loan.
The town’s project will rehabilitate the aging wastewater treatment plant and collection system and expand treatment plant capacity to allow North Webster to provide service to nearby communities, according to the announcement. The town expects the project will provide water quality and health benefits by keeping its effluent limits in compliance with set standards.
The CWSRF program is administered by the Finance Authority with joint funding from the U.S. Environmental Protection Agency and the state Revolving Loan Fund program.[[In-content Ad]]
The low-interest loan to fund mandated system improvements is through the Indiana Finance Authority’s Clean Water State Revolving Grant Loan Program, the announcement states. The town estimates it will save $642,150 in interest over the life of the loan by using the loan program instead of securing a traditional loan.
The town’s project will rehabilitate the aging wastewater treatment plant and collection system and expand treatment plant capacity to allow North Webster to provide service to nearby communities, according to the announcement. The town expects the project will provide water quality and health benefits by keeping its effluent limits in compliance with set standards.
The CWSRF program is administered by the Finance Authority with joint funding from the U.S. Environmental Protection Agency and the state Revolving Loan Fund program.[[In-content Ad]]
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