February 18, 2019

HCWA awarded $2.5 million loan for water system infrastructure

(Atlanta, GA) — The Heard County Water Authority was awarded a $2,500,000 Drinking Water State Revolving Fund (DWSRF) loan by the Georgia Environmental Finance Authority (GEFA) board of directors.

The loan will finance the rehabilitation of the Heard County Water Treatment Facility.

Due to population growth, the facility is unable to meet demand and portions of the plant have reached the end of their useful life. This project will improve water and energy efficiency and will bring more reliable service to water customers.

The authority will pay 1.33 percent interest on the 20-year loan. The loan qualifies for a reduced interest rate because a portion of the project is a conservation activity. The authority is eligible for principal forgiveness up to $500,0000.

The DWSRF, 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.

The program is jointly funded by the U.S. Environmental Protection Agency and the state of Georgia.

Eligible projects include a wide variety of public health or compliance related water supply projects. These projects conserve and improve water resources and facilitate economic growth and development. Low-interest loans from this program are available up to $25 million.

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