Tenn. provides two drinking water loans for $1.2M

Last week, Tennessee officials announced loans for the Town of Etowah and the Arthur-Shawanee Utility District totaling $1.275 million. Both loans come from the Drinking Water State Revolving Fund Loan Program.

The larger loan granted $1 million for the Town of Etowah, with the remaining loan granting $275,000 for the Arthur-Shawanee Utility District. Both loans will address improvements to the respective area’s water distribution systems, and both loans will carry a 20-year term.

“This program provides significant assistance for local communities across Tennessee,” said Tennessee Governor Bill Lee. “Water infrastructure is essential, and these low-interest loans provide an affordable pathway to infrastructure upgrades.”

This fiscal year, TDEC has awarded $1,430,000 in drinking water loans and $15,587,000 in clean water loans. In fiscal year 2021, TDEC awarded $7,171,000 in drinking water loans and $77,568,000 in clean water loans for a total of $84,739,000.

Tennessee’s Clean Water State Revolving Fund Loan Program has awarded more than $2 billion in low-interest loans since its inception in 1987. The state’s Drinking Water State Revolving Fund Loan Program has awarded more than $300 million in low-interest loans since its inception in 1996.

SOURCE: Tennessee Department of Environment and Conservation