Tennessee Governor Bill Lee and Tennessee Department of Environment and Conservation (TDEC) Commissioner David Salyers have announced a $400,000 loan for the Town of Dandridge. This funding, part of the State Revolving Fund Loan Program, aims to enhance the town’s water infrastructure. This loan is one of five approved by the Tennessee Local Development Authority, with other recipients including the Town of Jacksboro, Caryville/Jacksboro Utilities Commission, the City of Fayetteville, and the Town of White Pine, amounting to a total of $16.2 million in loans.
Governor Lee emphasized the significance of water infrastructure improvements, stating, “Water infrastructure can be a challenging issue for a community, and this program provides crucial funding for improvements. We commend these communities for showing such commitment to meeting their needs and going through this process.”
Latest TN News
Commissioner Salyers added, “One of the most important issues facing a community is dependable water service, and these loans can help address those needs. Tennesseans benefit from the process behind these loans, and we look forward to the results that will come from these efforts.”
The loan for Dandridge will be utilized for infiltration and inflow corrections, including planning and designing sewer line rehabilitation and replacement, as well as manhole replacement. This loan carries a five-year term at a 2.38% interest rate, with $200,000 in principal forgiveness, and the remaining amount to be repaid.
The State Revolving Fund Loan Program offers communities, utility districts, and water and wastewater authorities loans with lower interest rates than private financing. Interest rates can range from zero percent to below market rate, depending on the economic health of each community.
In the current fiscal year, TDEC has awarded $31,686,173 in drinking water loans and $71,142,500 in clean water loans to address the state’s infrastructure needs. For fiscal year 2024, TDEC has allocated $54,108,182 in drinking water loans and $85,350,843 in clean water loans, totaling $139,459,025.
Since 1987, Tennessee’s Clean Water State Revolving Fund Loan Program has issued over $2 billion in low-interest loans, while the Drinking Water State Revolving Fund Loan Program has provided more than $300 million in loans since 1996.
Source: Read Original Release
TDOT Initiates Bridge Repair Using PDB Method
The Tennessee Department of Transportation has awarded a Progressive Design-Build contract for the repair of the Broad Street bridge over the Doe River in Elizabethton, damaged by Hurricane Helene. The project aims to reopen the bridge by May 23, 2025, utilizing a collaborative design-build approach to streamline the process and manage costs effectively.