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Water and wastewater construction loans awarded
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.