Governor Bill Lee and Commissioner David Salyers of the Tennessee Department of Environment and Conservation (TDEC) have announced a significant financial development for the Chuckey Utility District. A $1.83 million loan has been sanctioned to enhance the district’s water infrastructure, marking a step forward in addressing local water needs.
This loan is part of a broader initiative by the Tennessee Local Development Authority, which has approved loans amounting to $31.7 million for several projects, including those in Hamilton County Water and Wastewater Treatment Authority and the City of Rockwood. Governor Lee emphasized the importance of such financial support, noting its critical role in helping communities meet infrastructure requirements. Commissioner Salyers echoed this sentiment, highlighting the program’s contribution to ensuring high-quality water services.
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The loan for Chuckey Utility District is sourced from the Drinking Water State Revolving Fund Loan Program. It is specifically aimed at addressing waterline extensions, with a favorable 20-year term at an interest rate of 1.87 percent. A portion of the loan, amounting to $915,000, has been forgiven, reducing the repayment burden on the district.
The State Revolving Fund Loan Program offers communities, utility districts, and water and wastewater authorities access to loans at lower interest rates compared to private financing. The interest rates for these loans range from zero percent to below market rate, contingent on each community’s economic standing.
In the current fiscal year, TDEC has allocated $16,536,173 in drinking water loans and $71 million in clean water loans to address the state’s infrastructure requirements. In fiscal year 2024, TDEC distributed $54,108,182 in drinking water loans and $85,350,843 in clean water loans, totaling $139,459,025.
Since its inception in 1987, the Tennessee Clean Water State Revolving Fund Loan Program has provided over $2 billion in low-interest loans. Additionally, the Drinking Water State Revolving Fund Loan Program, established in 1996, has awarded over $300 million in low-interest loans, further supporting the state’s water infrastructure development.
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TDOT Requests Property Access for Flood Recovery
The Tennessee Department of Transportation (TDOT) is reaching out to property owners in East Tennessee for temporary right-of-entry to access land needed for road repairs following recent flooding. Property owners are urged to contact TDOT if they have received communication about this request, which is verified as legitimate. More information is available through TDOT’s provided resources.