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City gets $4M loan for wastewater project

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POSTED: November 21, 2011 1:00 p.m.

Richmond Hill is getting some help from the state in funding its wastewater treatment plant upgrade and expansion.
Georgia Environmental Finance Authority (GEFA) Executive Director Kevin Clark announced Friday the approval of a Clean Water State Revolving Fund (CWSRF) low-interest loan of $4 million to the city of Richmond Hill.
The loan will 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.
“The federal water and sewer programs administered by GEFA assist local governments with improving their environmental infrastructure,” said Clark. “Through the Clean Water program, affordable financing helps cities and counties improve water quality.”
Richmond Hill will pay 3 percent interest on the 20-year loan of $4 million, which includes principal forgiveness of up to $500,000 if all loan funds are drawn.
Clark expressed appreciation to Gov. Nathan Deal, state Sen. Buddy Carter, R-Pooler, and state Rep. Ron Stephens, R-Savannah, 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 helps communities prepare for economic growth and development by providing low-interest loans. The 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.

 

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