NASHVILLE — State officials today approved a $6 million low-interest loan to the Hamilton County Water and Wastewater Treatment Authority to help fix infiltration and inflow problems in East Ridge, Ooltewah, Soddy-Daisy and Red Bank.
The project will be funded with a 20-year, $4.8 million loan at an interest rate of 1.54 percent. The remaining $1.2 million is covered by a federal Environmental Protection Agency principal-forgiveness program.
Members of the Tennessee Local Development Authority unanimously OK’d the Clean Water State Revolving Fund loan for Hamilton County along with State Revolving Fund loans for three Middle Tennessee communities’ projects totaling $25.5 million.
Gov. Bill Haslam said in a news release issued later saying the “projects will help address critical drinking water and wastewater infrastructure improvements, as well as foster healthy communities as they continue to grow.”
Tennessee’s State Revolving Fund Loan Program provides low-interest loans to help communities, utility districts, and water and wastewater authorities finance projects that protecting ground and surface waters and public health.
The loans are used to finance the planning, design and construction of water and wastewater facilities.
Andy Sher is a Nashville-based staff writer covering Tennessee state government and politics for the Times Free Press. A Washington correspondent from 1999-2005 for the Times Free Press, Andy previously headed up state Capitol coverage for The Chattanooga Times, worked as a state Capitol reporter for The Nashville Banner and was a contributor to The Tennessee Journal, among other publications. Andy worked for 17 years at The Chattanooga Times covering police, health care, county government, ...