Tenn. announces $42M in water loans

Earlier this week, Tennessee officials announced three Clean Water State Revolving Fund loans totaling $42 million. The announcement awards loans worth $20.6 million to the city of Dayton, $19.5 million to the city of Franklin, and $2 million to the city of Athens.

“We are committed to providing dependable water infrastructure for Tennessee communities”, said governor Bill Lee in a statement. “These loans make infrastructure upgrades affordable and accessible for local governments and help to keep Tennesseans healthy.”

“The State Revolving Fund Loan Program is an excellent resource for providing dependable water systems in our communities,” said Commissioner David Salyers of the state’s Department of Environment and Conservation. “We look forward to the improvements the program can bring with this assistance.”  

Athens’s loan of $2 million will help address improvements to the city’s wastewater collection system and has a 20-year term at 0.57 percent interest, Franklin’s loan of $19.5 million will address the wastewater treatment system and has a 30-year term at 1.28 percent interest, and Dayton’s two loans, totaling $20.6 million, will address the wastewater treatment system and have a 20-year term at 0.37 percent.