The Tennessee Local Development Authority approved loans for two water treatment improvement projects today – one located in Henderson County and the other in the City of Crossville.
Henderson County will receive a $1,468,173.60 low-interest loan from the state through the Clean Water State Revolving Fund for wastewater improvements that will eliminate surface water discharges at four rural schools.
The City of Crossville will receive a $5 million low-interest loan to develop infrastructure needed to transfer water from Lake Tansi for use at the water treatment plant at Meadow Park Lake.
Crossville’s loan will come from two different sources – the Drinking Water State Revolving Fund and the federal American Recovery and Reinvestment Act of 2009. Because the federal program allows up to 40 percent of loan amounts to be forgiven, Crossville will only be obligated to repay $3 million.
“I am pleased the TLDA is able to work with these communities to fund these significant needs,” said Secretary of State Tre Hargett, who is a member of the TLDA. “Clean and safe water is at the core of any successful and vibrant community.”
“Clean water is essential in order for Tennessee to continue to prosper,” said Comptroller Justin P. Wilson, another member of the TLDA. “Low-interest loans such as these are an important financing tool for our cities and counties.”
“Through the use of state and federal dollars, we have been able to provide some financial help for local governments that they might otherwise have had difficulty finding through other sources,” said Treasurer David H. Lillard Jr. “That’s an important role that the TLDA plays."
In addition to Hargett, Lillard and Wilson, the other members of the TLDA are Governor Phil Bredesen, Finance and Administration Commissioner Dave Goetz, former Union City city manager Don Thornton and Houston Naron Jr., chairman of the Williamson County Board of Commissioners.