SPRINGFIELD, Ill. (WCIA) — The Illinois Environmental Protection Agency is looking to improve water infrastructure across the state and they’re using two loan programs to do that.
Over the last six months, the IEPA’s State Revolving Fund invested more than $66 million into these projects through its two programs: the Water Pollution Control Loan Program, which funds wastewater and stormwater projects, and the Public Water Supply Loan Program for drinking water projects.
The programs provide low-interest loans at 1.81% interest and also provide for loan forgiveness. Part of the investment included $4.6 million in forgiveness.
“Through our State Revolving Fund, Illinois EPA works in partnership with our communities to provide crucial funding to help ensure clean water and a healthier environment,” said IEPA Director John Kim. “These programs enable communities in Illinois to take significant steps to update or replace outdated and failing water infrastructure.”
Both SFR programs receive federal funding annually, which is combined with state matching funds, interest earnings, repayment money and bond sales to fund water infrastructure projects. The state-matching funds for fiscal years 2020 through 2024 are being provided through the Rebuild Illinois capital program.
Most of the projects are located outside of Central Illinois, but one project is in the Christian County village of Kincaid. The village received $1.2 million for the first phase of a three-phase project that will improve their Sewer Treatment Plant. The project will include the installation of Installation of Variable Frequency Drives for the pump stations at the STP, along with lighting upgrades and the installation of an aeration system for the STP Primary Lagoon.
Kincaid also received $362,000 in loan forgiveness, the IEPA said.
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via WCIA.com https://www.wcia.com
January 25, 2024 at 06:33PM
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