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Tuesday March 31st, 2020 6:45AM

Lula, Banks Co., Braselton receive state infrastructure loans

By AccessWDUN Staff

Eight Georgia communities, including Lula, Banks County, and Braselton, have been awarded state financing totaling $41.3 million for water, wastewater, and stormwater infrastructure improvements.

The Georgia Environmental Finance Authority board of directors administers the low-cost loans, which include $1.2 million for Lula; five million for Banks County; and $580,000 for Braselton.

Banks County will use its funds to finance the rehabilitation of an existing lift station and the installation of gravity sewer, force main and lift stations to service the Martin Bridge area. The site selected for a new industrial partner does not currently have access to the county sewer system. This project will extend the county’s sewer system to accommodate the new industrial development and potential for continued economic growth. The county will pay 1.94% interest on the 20-year loan.

Braselton's loan will finance improvements to the town’s stormwater system. The town is experiencing drainage issues on Harrison Street that are causing siltation and streambank erosion in Indian Creek. This project will widen and repave Harrison Street, enhance stormwater facilities, improve drainage, reduce siltation, and increase capacity. The town will pay 0.50% interest on the 10-year loan, which is eligible for a reduced interest rate because Braselton is a WaterFirst Community.

Lula's$1.2 million conservation loan will be used to finance the construction of a gravity sewer line and the elimination of a pump station. This project will extend the city’s gravity sewer system to an existing residential and commercially-zoned corridor along State Route 365. The city will pay 0.94% interest on the 20-year loan. 

The Georgia Environmental Finance Authority provides financing for a variety of energy, land, and water projects. 

Click here for a list of all the latest projects approved by GEFA.

  • Associated Categories: Homepage, Business News, Local/State News, Submitted News
  • Associated Tags: Banks County, Lula, braselton, infrastructure, Georgia Environmental Finance Authority, loans
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