Northwest Iowa — Five area water systems — two in our primary coverage area — are among 58 that have received loans for water quality.
The Iowa Finance Authority and the Iowa Department of Natural Resources say that 58 Iowa communities have received a total of more than $171 million in low-interest loans through the State Revolving Fund to assist in advancing water quality projects.
State Revolving Fund Construction Loans are a low-cost construction financing option available for Iowa cities and municipalities for drinking water and wastewater infrastructure. Planning & Design Loans are zero percent loans that assist with the first phase of project expenses.
The DNR says the loans will allow the water systems to move pertinent water quality projects forward.
In our area, the city of Alton received a loan of over a million dollars, which will go toward sewer transmission improvements. Sanborn received a loan of $690,000 toward water planning and design.
Just outside our area, Dickinson County received a loan of $80,000 toward non-point planning and design. Spencer received a loan of over $1.5 million toward combined sewer separation. And Merrill received a loan of $1.3 million toward sewer treatment improvements.
The State Revolving Fund has awarded Iowa communities and municipalities with more than $3.4 billion in Construction Loans and more than $198 million through Planning & Design Loans since the program’s inception. The low-interest loans have saved communities millions of dollars in interest. More information is available at IowaSRF.com.
The Iowa Finance Authority administers the State Revolving Fund in partnership with the Iowa Department of Natural Resources. The fund assists communities with the costs of upgrading or constructing local wastewater and drinking water infrastructure projects.
