Tennessee Governor Bill Lee and the Tennessee Department of Environment and Conservation (TDEC) Commissioner David Salyers have announced a significant financial commitment to improve water infrastructure in Hamilton County. A $24 million loan has been approved for the Hamilton County Water and Wastewater Treatment Authority (WWTA), aimed at enhancing the region’s water systems.
This loan is part of a broader initiative by the Tennessee Local Development Authority, which has sanctioned a total of $31.7 million in loans. Besides Hamilton County, the Chuckey Utility District and the City of Rockwood will also receive funds for their infrastructure projects.
Latest TN News
Governor Lee emphasized the importance of these loans, stating that they are crucial for local communities in addressing infrastructure requirements. He praised the communities for their efforts in securing these funds, highlighting the program’s history of success.
Commissioner Salyers echoed these sentiments, emphasizing the necessity of high-quality water services for all communities. He expressed optimism about the improvements that will result from these loans.
The loan for Hamilton County WWTA is derived from the Clean Water State Revolving Fund Loan Program. It is earmarked for improvements to wastewater treatment facilities and comes with a 20-year term at an interest rate of 3.11 percent.
The State Revolving Fund Loan Program offers communities, utility districts, and water authorities access to loans with interest rates lower than those available through private financing. These loans can range from zero to below market rates, depending on the economic health of each community.
In the current fiscal year, TDEC has awarded over $16.5 million in drinking water loans and $71 million in clean water loans. During fiscal year 2024, the department granted more than $54 million in drinking water loans and over $85 million in clean water loans, amounting to a total of approximately $139.5 million.
Since its establishment in 1987, Tennessee’s Clean Water State Revolving Fund Loan Program has distributed over $2 billion in low-interest loans. Similarly, the state’s Drinking Water State Revolving Fund Loan Program, initiated in 1996, has provided more than $300 million in low-interest loans.
For more information, visit the Tennessee Department of Environment and Conservation.
Source: Read Original Release
Tennessee Colleges Aid Hurricane Helene Victims
Tennessee’s community colleges and Colleges of Applied Technology have mobilized to help residents affected by Hurricane Helene, collecting over 14,000 cases of bottled water and providing meals and relief supplies. The relief efforts, coordinated by TBR – The College System of Tennessee, involve several colleges serving as donation hubs and are supported by industry partners. Financial donations to the Flood Relief Fund are vital for continuing aid.