|Twenty Iowa Cities Benefit from $42.3 Million in Low-Interest State Revolving Fund Loans for Water Quality Initiatives|
|News Releases - Environment & Weather|
|Written by Emily Toribio|
|Friday, 26 July 2013 14:25|
Cities of Bonaparte, Burlington, Cambridge, Davenport, Deloit, Des Moines metro area, Dubuque, Gilmore City, Granger, Hills, Indianola, Keokuk, Lambs Grove, Lidderdale, Maquoketa, Melbourne, Monmouth, Sabula, Schleswig, and Sioux City receive
Des Moines – Twenty Iowa cities will benefit from a combined total of more than $42.3 million in low-cost water quality loans through the State Revolving Fund. State Revolving Fund Construction Loans are a low-cost construction financing option available for Iowa cities and municipalities for water quality initiatives. Planning & Design Loans are zero percent loans that assist with the first-phase of project expenses. The Iowa Finance Authority and the Iowa Department of Natural Resources jointly administer the State Revolving Fund.
“I commend the twenty cities that recently tapped into the low-cost financing offered through the State Revolving Fund for their shared commitment to advancing affordable, quality water for Iowans,” said Iowa Finance Authority Executive Director Dave Jamison. “These low-cost loans will mean quality water and will help to maintain affordable water rates for thousands of Iowans for generations to come.”
“Many Iowa cities and municipalities have a wide-array of water quality improvement needs, and we are encouraged to see them take advantage of the low-cost financing through the State Revolving Fund in order to reach their community’s needs,” said Iowa Department of Natural Resources Director Chuck Gipp.
The State Revolving Fund has awarded Iowa communities and municipalities more than $2 billion in Construction Loans and $123 million through Planning & Design Loans since program inception. The loans are made available as part of the State Revolving Fund. For more information on Planning & Design Loans, as well as other State Revolving Fund programs, visit IowaSRF.com.
The Iowa Legislature created The Iowa Finance Authority, the state’s housing finance agency, in 1975 to undertake programs to assist in the attainment of low- and moderate-income Iowans. IFA also administers the State Revolving Fund (SRF) in cooperation with the Iowa Department of Natural Resources. The SRF assists communities with the costs of upgrading or constructing local wastewater and drinking water infrastructure projects.
Recent loan recipients:
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