ATLANTA - The Georgia Environmental Finance Authority (GEFA) Tuesday announced financing for several projects, including one in Demorest.
Demorest was approved for a loan of $3.3 million to replace 30,500 feet of water line and install 4500 feet of new water line. It also includes replacing over 5500 old water meters with new radio meters.
The 20-year loan comes at 1.63 percent interest. This loan qualifies for a reduced interest rate because portions of the project will conserve water, according to GEFA.