BUFORD. - Georgia Environmental Finance Authority (GEFA) Executive Director Kevin Clark recently announced approval of financing for environmental infrastructure projects in eight Georgia communities - including Barrow County - totaling $16,773,943. At a meeting in Buford, the GEFA board of directors approved the commitments to help finance water and sewer infrastructure improvements.
"The water, sewer and solid waste programs administered by GEFA assist local governments with improving their environmental infrastructure," said Clark. "Financing water, sewer and solid waste projects encourages economic growth and the stewardship of our environment."
Clark expressed appreciation to Gov. Deal and to the members of the General Assembly for their support. He credited the state's commitment to helping cities and counties finance infrastructure development as one of the main contributors to GEFA's success.
"GEFA financing for water, sewer and solid waste infrastructure helps communities in all areas of the state," said Grady Thompson, chairman of the GEFA board of directors and chairman of the Tift County board of commissioners. "The projects that we agreed to finance today demonstrate that GEFA is investing in communities that are willing to invest in themselves."
GEFA helps communities prepare for economic growth and development through the provision of low-interest loans.
The Clean Water State Revolving Fund (CWSRF) is a federal loan program administered by GEFA for wastewater infrastructure and water pollution reduction projects. Eligible projects include a wide variety of storm water and wastewater collection and treatment projects.
The Drinking Water State Revolving Fund (DWSRF) is a federal loan program administered by GEFA for drinking water infrastructure projects.
The Georgia Fund is a state-funded program administered by GEFA for water, wastewater and solid waste infrastructure projects. The program is flexible and accessible, and offers fast loan approvals. The Georgia Fund provides loans to local governments for projects such as water and sewer lines, treatment plants, pumping stations, wells, water storage tanks and water meters. Low-interest loans from this program are available up to $3 million.
Below are details of the loans that were approved:
City of Camilla
The city of Camilla was approved for a DWSRF loan of $1,945,900 to finance installing 11,000 linear feet of water main and fire hydrants, and replacing asbestos cement and cast-iron piping. The project will also replace 2,400 service meters and install backflow prevention devices. A portable generator to provide emergency power at several wells, fencing to protect a storage tank and new chlorination equipment at all five wells will be purchased. Camilla will pay 2.54 percent interest on the 20-year loan of $1,945,900, with principal forgiveness of up to $500,000 if all loan funds are drawn. The city received a reduced interest rate because some aspects of the project will help conserve water.
City of Leesburg
The city of Leesburg was approved for a DWSRF loan of $651,480 to finance replacing aging water meters with new Automated Meter Reading (AMR) readers, along with other necessary hardware and software. Leesburg will pay 2 percent interest on the 20-year loan of $651,480, which includes principal forgiveness of up to $195,444 if all the loan funds are drawn. The city received a 1 percent interest rate reduction because the project will help conserve water.
City of Martin
The city of Martin was approved for a DWSRF loan of $1,000,000 to finance supply improvements including installing an interconnection to the city of Lavonia and Franklin County, developing and renovating wells, repairing storage tanks, purchasing emergency back-up generators and replacing water mains. Martin will pay 3 percent interest on the 20-year loan of $1,000,000, which includes principal forgiveness of up to $300,000 if all the loan funds are drawn.
City of Richmond Hill
The city of Richmond Hill was approved for a CWSRF loan of $4,000,000 to finance phase one of a multi-phase project to upgrade the existing water pollution control plant from 1.5 million to 4 million gallons per day. Richmond Hill will pay 3 percent interest on the 20-year loan of $4,000,000, which includes principal forgiveness of up to $500,000 if all loan funds are drawn.
City of Springfield
The city of Springfield was approved for a Georgia Fund water reuse grant of $100,000 for the installation of a 50,000-gallon storage tank and water reuse lines to service the industrial park. The total project cost is $392,800 with GEFA providing $100,000, and Springfield providing $292,800 in SPLOST funds.
City of Wrens
The city of Wrens was approved for a DWSRF loan of $810,000 to finance installing water lines and a booster pump station. Wrens will pay 3 percent interest on the 20-year loan of $810,000, which includes principal forgiveness of up to $243,000 if all the loan funds are drawn.
Baldwin County
Baldwin County was approved for a DWSRF loan of $5,266,563 to finance construction of four elevated water tanks and a 12-inch water line. Baldwin County will pay 3 percent interest on the 20-year loan of $5,266,563, which includes principal forgiveness of up to $500,000 if all the loan funds are drawn.
Barrow County
Barrow County was approved for a Georgia Fund loan of $3,000,000 to finance installing 7,000 linear feet of water main, a 300,000 gallon storage tank, fire hydrants, and a 2,500 gallon per minute high-service pump. Barrow County will pay 3.13 percent interest on the 20-year loan of $3,000,000.
Tuesday
November 26th, 2024
5:21PM
