Media release: Georgia Environmental Finance Authority (GEFA) Executive Director Kevin Clark announced today the approval of a Georgia Fund loan of $2,500,000 to the city of Rome. The loan, approved by the GEFA executive committee, will finance improvements at the Bruce Hamler Water Treatment Facility. The total project cost is $2,500,000 with GEFA providing the entire amount.
"The Georgia Fund is a tangible commitment by Gov. Deal and the General Assembly to assist local governments across the state with their efforts to provide clean water, sewer system and solid waste improvements," said Clark. "In addition to the public's health and safety, these projects are critical to a community's economic growth and prosperity."
Clark expressed appreciation to Gov. Deal, state Sen. Barry Loudermilk and state Reps. Barbara Massey Reece, Katie Dempsey and Christian Coomer 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.
The Georgia Fund, a state-funded program administered by GEFA, provides communities with low-interest loans for water, wastewater, water conservation and solid waste infrastructure projects. Eligible projects include water and sewer lines, treatment plants, pumping stations, wells, water storage tanks and water meters. These projects conserve and improve water resources, and facilitate economic growth and development. Low-interest loans from this program are available up to $10 million.
Rome will pay 2.13 percent interest on the 20-year loan of $2,500,000. Georgia Fund policy reduces the current interest rate by 1 percent to communities that have earned the WaterFirst designation from the Georgia Department of Community Affairs, which recognizes communities for excellence in water stewardship.
Cities and counties interested in more information regarding the Georgia Fund should visit www.gefa.org or call 404-584-1000
No comments:
Post a Comment