Des Moines — One northwest Iowa community has received a nearly half-a-million-dollar loan for sewer improvements from the Iowa Finance Authority and the Iowa Department of Natural Resources.
They report that the city of Granville is among 26 Iowa communities that recently received low-interest water quality loans totaling more than $82.8 million through the State Revolving Fund. Granville received a loan of $448,000 for sewer transmission improvements.
The Iowa Finance Authority says that State Revolving Fund Construction Loans are a low-cost construction financing option available for Iowa cities and municipalities for water quality initiatives. Planning & Design Loans are zero percent loans that assist with the first-phase of project expenses.
Iowa Finance Authority Executive Director Dave Jamison says that the Iowa Finance Authority is proud to partner with the Iowa Department of Natural Resources to offer programs to assist Iowa communities in improving their wastewater or drinking water infrastructure. He says that the State Revolving Fund’s affordable financing benefitted nearly 712,000 Iowans in the last fiscal year alone and is poised to assist many more in the years ahead.
Iowa Department of Natural Resources Director Chuck Gipp says that the State Revolving Fund is an important resource for Iowa communities as they face a wide array of water quality improvement needs, and he encouraged Iowa communities to contact the Iowa Department of Natural Resources or the Iowa Finance Authority to learn more.
The State Revolving Fund has awarded Iowa communities and municipalities with more than $2.8 billion in Construction Loans and more than $175 million through Planning & Design Loans since the program’s inception.
The U.S. Environmental Protection Agency provides annual capitalization grants to states. Leveraged bonds and loan repayments expand the reach of the federal investment. More than $3 in assistance has been leveraged for Iowa water quality projects for every $1 of federal funds. More information is available at IowaSRF.com.
