Tennessee Approves $24.7M In Water Infrastructure Loans
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The Center Square [By Jon Styf] –
Tennessee is sending $24.7 million worth of water infrastructure loan funds to four communities, with $20 million going to Oak Ridge.
Oak Ridge received a 30-year loan at 3.33% to construct a new membrane filtration water treatment plant.
The funds come from Tennessee’s Drinking Water State Revolving Fund Loan Program through the Tennessee Department of Environment and Conservation.
TDEC has awarded $48.6 million in drinking water loans and $84.1 million in clean water loans this fiscal year.
During fiscal year 2023, TDEC awarded $47.3 million in drinking water loans and $64.1 million in clean water loans for a total of $111.4 million.
The Clean Water State Revolving Fund Loan Program has awarded more than $2 billion in low-interest loans since it began in 1987 and the Drinking Water State Revolving Fund Loan Program awarded more than $300 million in low-interest loans since it began in 1996.
The other loans approved went to the Tullahoma Utilities Authority ($509,943), the City of Winchester ($4.1 million) and the Town of Woodbury ($109,932).
Winchester received a 15-year loan at 2.17% with $834,100 in principal forgiveness for water meter replacements.
Tullahoma’s loan will be spent on installation of a new pump station and force main with a 20-year loan at 2.35% interest.
About the Author: Jon Styf, The Center Square Staff Reporter – Jon Styf is an award-winning editor and reporter who has worked in Illinois, Texas, Wisconsin, Florida and Michigan in local newsrooms over the past 20 years, working for Shaw Media, Hearst and several other companies. Follow Jon on Twitter @JonStyf.
