|Twenty-Two Iowa Communities Benefit from $34.7 Million in Low-Interest State Revolving Fund Loans for Water Quality Initiatives|
|News Releases - Environment & Weather|
|Written by Ashley Jared|
|Wednesday, 30 October 2013 12:05|
Communities of Anamosa, Anita, Blairsburg, Bonaparte, Callender, Cascade, Clarion, Clinton, Colfax, Dakota City, Fairfield, Grimes, Hancock, Keokuk, Lowden, Massena, Mingo, Mount Ayr, New Hartford, Shenandoah Sioux City and Wapello to move water quality projects forward
Des Moines – The Iowa Finance Authority and the Iowa Department of Natural Resources today announced that twenty-two Iowa communities will benefit from a combined total of more than $34.7 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 is proud to work in partnership with the Iowa Department of Natural Resources to administer the State Revolving Fund,” said Iowa Finance Authority Executive Director Dave Jamison. “Together we have assisted more than 500 Iowa communities to bridge the gap between needed infrastructure improvements and affordable financing. The revolving aspect of this fund means we can look forward to helping many more communities reach their water quality goals.”
“Large and small and rural and urban communities all across Iowa face a large variety of water quality needs,” said Iowa Department of Natural Resources Director Chuck Gipp. “Hundreds of Iowa communities have utilized the State Revolving Fund for low-cost financing to help them address those unique needs.”
The State Revolving Fund has awarded Iowa communities and municipalities more than $2.1 billion in Construction Loans and $125 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 affordable housing for 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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