NASHVILLE, TN – Governor Bill Lee, with David Salyers, commissioner of the Tennessee Department of Environment and Conservation or TDEC, officially announced that there will be an 8 million dollars loan for the City of White House. The loan will be utilized to enhance and upgrade the water infrastructure.
Lee stated that they are proud to partner with local communities to modernize the water infrastructure of the state.
“We are committed to supporting infrastructure development and improvement across our state, and we’re excited to see how Tennesseans benefit from this investment,” Lee said.
The Tennessee Local Development Authority approved eight loans totaling $15.7 million, which comprise the details as follows:
- A loan for the City of White House for $8million
- A loan for the City of Waverly for $580,000
- Two loans in a total of $70,000 for the Town of Alexandria
- Two loans of $605,000 overall for the Town of Carthage
- Two loans of more than $6.4 million for the City of Westmoreland
On the other hand, Salyers stated that each community in Tennessee deserves a dependable water system.
“The State Revolving Fund Loan Program works in a way to make improvements affordable to communities needing the assistance, with a positive result for our environment.”
Clean Water State Revolving Fund Loan Program is responsible for giving grants to the loan for The City of White House. The loan will be used to improve the wastewater treatment system with a twenty-year term and 1.09% interest.
State Revolving Fund Loan Program allows communities, utility districts, as well as water and wastewater authorities to get loans with lower interest rates rather than purposing through private financing. The low-interest-rate loans range from 0% to below-market rates, it depends on the community’s economic well-being.
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