TDEC Announces $4.2 Million in Wastewater Constructions Loans for Goodlettsville
GOODLETTSVILLE – Tennessee Gov. Bill Haslam and Tennessee Department of Environment and Conservation (TDEC) Commissioner Dr. Shari Meghreblian have announced that the City of Goodlettsville has been approved to receive approximately $4.2 million in low-interest loans for wastewater infrastructure improvements.
“This infrastructure project will result in a better public service for Goodlettsville residents,” said Haslam. “Clean water is critical for our communities and our state to continue to lead in economic growth and overall quality of life.”
The City will receive $1,000,000 for a City Wide Sewer Rehabilitation Project. The project is funded with a 20-year, $900,000 loan with an interest rate of 1.90 percent and $100,000 in principal forgiveness that will not have to be repaid. The City will also receive $3,200,000 for the project, funded by a 20-year loan with an interest rate of 1.90 percent.
“Water is one of Tennessee’s most valuable and necessary resources,” said Meghreblian. “These funds are an investment in that natural resource and in the prosperity of Goodlettsville.”
The proposed project will consist of conducting a sanitary sewer evaluation survey and rehabilitation of approximately 46,250 linear feet of gravity sewer within the Mansker Creek, Rivergate and Dry Creek Sewer Basins.
“This funding will be really beneficial to allow our city to repair our aging infrastructure,” said Goodlettsville Mayor Jeff Duncan.
Tennessee’s Clean Water State Revolving Fund Loan Program has awarded more than $1.8 billion in low-interest loans since its inception in 1987. Tennessee’s Drinking Water State Revolving Fund Loan Program has awarded more than $304.82 million in low-interest loans since its inception in 1996.
Through the SRF Program, communities, utility districts, and water and wastewater authorities can obtain loans with lower interest rates than most can obtain through private financing. Interest rates for loans can vary from zero percent to market rate based on each community’s economic index. Loans utilizing EPA grant funds can include a principal forgiveness component.
TDEC administers the SRF Program in conjunction with the Tennessee Local Development Authority. The U.S. Environmental Protection Agency provides grants to fund the program, and the state provides a 20 percent match. Loan repayments are returned to the program and are used to fund future SRF loans.
The funding order of projects is determined by the SRF Program’s Priority Ranking Lists that rank potential projects according to the severity of their pollution and/or compliance problems or for the protection of public health.
Any local government interested in a SRF Loan should contact the State Revolving Fund Loan Program, Tennessee Tower, 12th floor, 312 Rosa L. Parks Ave., Nashville, TN 37243, or call (615) 532-0445. Additional information may be found online at https://www.tn.gov/environment/program-areas/wr-water-resources/water-quality/state-revolving-fund-program.html.