knoxville news
knoxville news entertainment rss linkedin twitter facebook contact smoky mountains knoxville legal notices travel knoxville sports business knoxville daily sun lifestyle food knoxville daily sun advertising about knoxville daily sun
 
 

Lee, TDEC announce $20 million loan for City of Oak Ridge water improvements
May 20, 2024, 9:37 p.m.


NASHVILLE, TN – Tennessee Gov. Bill Lee and Tennessee Department of Environment and Conservation (TDEC) Commissioner David Salyers today announced a $20 million loan for the City of Oak Ridge to improve water infrastructure.

The loan is one of four approved by the Tennessee Local Development Authority, with loans for the Tullahoma Utilities Authority, the City of Winchester, and the Town of Woodbury bringing the total to $24.7 million.

“This program addresses water infrastructure in communities across our state,” Lee said. “We look forward to the results that will come from this assistance, and we thank local leaders for their initiative and good stewardship of the environment.”





“One of our greatest environmental responsibilities is ensuring quality water infrastructure, said Salyers. “We are glad we can assist local leaders across the state in meeting their needs.”

The City of Oak Ridge loan comes from the Drinking Water State Revolving Fund Loan Program. It will address the construction of a new membrane filtration water treatment plant. The loan has a 30-year term at 3.33 percent interest.

Through the State Revolving Fund Loan Program, communities, utility districts, and water and wastewater authorities can obtain loans with lower interest rates than through private financing. These low interest rate loans can vary from zero percent to below market rate, based on each community’s economic health.

This fiscal year, TDEC has awarded $48,608,182 in drinking water loans and $84,050,843 in clean water loans to meet the state’s infrastructure needs. During fiscal year 2023, TDEC awarded $47,345,000 in drinking water loans and $64,095,945 in clean water loans for a total of $111,440,945.

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.
















knoxville daily sun Knoxville Daily Sun
2024 Image Builders
User Agreement | Privacy Policy