The Georgia Environmental Finance Authority recently made an announcement regarding both the city of Dawsonville and a Dawson County entity.
The city of Dawsonville was awarded a $1 million Drinking Water State Revolving Fund loan from GEFA to help the city construct additional improvements for its water infrastructure.
"This loan allows us to replace some older water lines, get a new well on line and refurbish one of the water towers," said Dawsonville Mayor James Grogan. "Keeping our existing lines working and our tank cleaned and painted allows us to maintain the good, clear, clean water we expect from the Dawsonville water department."
Dawsonville will pay 1.71 percent interest on the 20-year loan, which includes principal forgiveness of up to $300,000 if all loan funds are drawn. The city is receiving a lower interest rate, reduced from 2.03 percent, because a portion of the project is water conservation eligible.
"The Drinking Water State Revolving Fund assists local governments with their efforts to provide safe drinking water," said GEFA Executive Director Kevin Clark. "In addition to the public's health and safety, these projects are critical to a community's ability to prosper economically."
The revolving fund loan, a federal loan program administered by GEFA, provides communities throughout Georgia with low-interest loans to fund water infrastructure projects that deliver safe, affordable drinking water.
Etowah Water and Sewer Authority was also awarded a loan from GEFA, with the authority receiving a $1.27 million Georgia Fund loan.
"This loan will go toward our State Route 53 and 400 Georgia Department of Transportation water and sewer improvement project," said Tim Collins, assistant manager of Etowah Water and Sewer Authority. "We are glad that GEFA made the decision to give us this loan and we will be moving forward with it in the coming months."
Etowah will pay 3.03 percent interest on the 20-year loan.
"The Georgia Fund is a tangible commitment by Gov. [Nathan] Deal and the General Assembly to assist local governments across the state with their infrastructure improvements," Clark said. "I'd like to express appreciation to Gov. Deal, House Speaker David Ralston, state Sen. Steve Gooch and state Rep. Kevin Tanner for their support. The state's commitment to helping cities and counties finance infrastructure projects contributes greatly to improving Georgia's water resources."
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.