Conservation project qualifies for interest rate reduction
The City of Decatur Public Facilities Authority was awarded an $11,452,000 Clean Water State Revolving Fund (CWSRF) loan by the Georgia Environmental Finance Authority (GEFA) executive committee.
The loan will finance the acquisition of 22.08 acres of land as part of the United Methodist Children’s Home land purchase of 77 total acres. This project will permanently protect the land for the purpose of conservation and public recreation.
The city will pay 1.70 percent interest on the 30-year loan. The loan will finance an eligible conservation project, which qualifies for a reduced interest rate.
“GEFA’s loan programs assist local governments with improving their environmental infrastructure. As part of the Clean Water program, cities and counties can also receive affordable financing for land conservation projects.” – GEFA Executive Director Kevin Clark.
“I’d like to express appreciation to Gov. Deal, U.S. Sens. Johnny Isakson and David Perdue, U.S. Reps. John Lewis and Hank Johnson, state Sen. Elena Parent, and state Reps. Karla Drenner, Howard Mosby, Mary Margaret Oliver, and Renitta Shannon for their support. The state’s commitment to helping cities and counties finance infrastructure development is a main contributor to GEFA’s success.” – GEFA Executive Director Kevin Clark.
The CWSRF, a federal loan program administered by GEFA, provides communities throughout Georgia with low-interest loans to fund wastewater infrastructure and water pollution control projects. The program is jointly funded by the U.S. Environmental Protection Agency and the state of Georgia. Eligible projects include a variety of stormwater and wastewater collection and treatment projects. These projects conserve and improve water resources and facilitate economic growth and development. Low-interest loans from this program are available up to $25 million.
GEFA provides loan financing at a reduced interest rate for energy efficiency and renewable energy projects at water and wastewater treatment plants, landfills, and municipal solid waste facilities; water conservation projects in the areas of water loss and end-use water efficiency; and land conservation projects, including fee title and conservation easement projects.