LOCAL NEWS — State official announced a $2.5 million loan for Metro Moore County to improve water infrastructure yesterday.

The loan is one of only two approved by the Tennessee Local Development Authority, with loans for the Metro Moore County and the City of Camden totaling $2,755,000. The loans come from the State Revolving Fund Loan Program.

The Metro Moore County’s loan comes from the Clean Water State Revolving Fund Loan Program. The loan will address infiltration and inflow correction within the sewer collection system and has a 20-year term at 1.03 percent interest.

“The State Revolving Fund Loan Program provides a way we can make water services affordable for our local communities,”said Tennessee Department of Environment and Conservation (TDEC) David Salyers. “Water infrastructure is a critical component for quality of life, and these loans are a way to help meet that need.”

Through the State Revolving Fund Loan Program, communities, utility districts, and water and wastewater authorities can obtain loans with lower interest rates than through private financing. These low interest rate loans can vary from zero percent to below market rate, based on each community’s economic health.

This fiscal year, TDEC has awarded $1.7 million in drinking water loans and $60.2 million in clean water loans to meet the state’s infrastructure needs. During fiscal year 2021, TDEC awarded $7,171,000 in drinking water loans and $77,568,000 in clean water loans for a total of $84,739,000.

Tennessee’s Clean Water State Revolving Fund Loan Program has awarded more than $2 billion in low-interest loans since its inception in 1987. The state’s Drinking Water State Revolving Fund Loan Program has awarded more than $300 million in low-interest loans since its inception in 1996. •

{The Lynchburg Times is the only independently owned newspaper in Lynchburg and also the only woman-owned newspaper in Tennessee. We cover Metro Moore County government, Jack Daniel’s Distillery, Nearest Green Distillery, Tims Ford State Park, Motlow State Community College, Moore County High School, Moore County Middle School, Lynchburg Elementary, Raider Sports, plus regional and state news.}