Cleveland Receives $10,000,000 For Wastewater Construction Loan

Tuesday, March 13, 2018

Six communities have been approved to receive more than $23.9 million in low-interest loans for water and wastewater infrastructure improvements, including $10,000,000 for the city of Cleveland.

“Abundant, clean water is critical to the quality of life in Tennessee, and these low-interest loans will help local communities provide needed infrastructure updates to ensure our supply of water is available for future generations,” said Governor Bill Haslam.

 Tennessee’s Clean Water State Revolving Fund Loan Program has awarded more than $1.9 billion in low-interest loans since its inception in 1987. Tennessee’s Drinking Water State Revolving Fund Loan Program has awarded more than $303.25 million in low-interest loans since its inception in 1996. 

“Clean water is one of our most valuable resources and these loans help ensure communities have the access they need,” said Tennessee Department of Environment and Conservation Commissioner Bob Martineau. 

Through the SRF Program, communities, utility districts, and water and wastewater authorities can obtain loans with lower interest rates than most can obtain through private financing. Interest rates for loans can vary from zero percent to market rate based on each community’s economic index. Loans utilizing EPA grant funds can include a principal forgiveness component. 

TDEC administers the SRF Program in conjunction with the Tennessee Local Development Authority. The U.S. Environmental Protection Agency provides grants to fund the program, and the state provides a 20 percent match. Loan repayments are returned to the program and are used to fund future SRF loans. 

The funding order of projects is determined by the SRF Program’s Priority Ranking Lists that rank potential projects according to the severity of their pollution and/or compliance problems or for the protection of public health. 

Two Wastewater Loans were announced Tuesday for the following recipients: 

City of Chapel Hill (Shelby County) – The city of Chapel Hill will receive $788,750 for a collection System Replacement project. The project will be funded with a 20-year, $709,875 loan with an interest rate of 1.04 percent and $78,875 in principal forgiveness that will not have to be repaid. 

City of Lewisburg (Marshall County) – The city of Lewisburg will receive $1,000,000 for a Wastewater Treatment Plant Improvement project. The project will be funded with a 20-year, $900,000 loan with an interest rate of 1.05 percent and $100,000 in principal forgiveness that will not have to be repaid. 

Three Traditional Wastewater Loans were announced Tuesday for the following recipients: 

City of Cleveland (Bradley County) – The city of Cleveland will receive $10,000,000 for an Infiltration/Inflow Correction project. The project will be funded with a 20-year, $10,000,000 loan with an interest rate of 1.58 percent. 

City of Lewisburg (Marshall County) – The city of Lewisburg will also receive $75,000 for a Wastewater Treatment Plant Improvement project. The project will be funded with a 20-year, $75,000 loan with an interest rate of 1.05 percent. 

City of Memphis (Shelby County) – The city of Memphis will receive $11,000,000 for the T.E. Maxson Wastewater Treatment Plant Headworks Improvements Project. The project will be funded with a 20-year, $11,000,000 loan with an interest rate of 0.81 percent. 

Two Drinking Water Loans were announced today for the following recipient: 

Town of Bell Buckle (Bedford County) – The town of Bell Buckle will receive $294,000 for a Distribution System Water Main line Replacements project. The project will be funded with a 20-year, $235,200 loan with an interest rate of 0.27 percent and $58,800 in principal forgiveness that will not have to be repaid. 

Town of Erwin (Unicoi County) – The town of Erwin will receive $750,000 for a New Water Storage Tank project. The project will be funded with a 20-year, $600,000 loan with an interest rate of 1.10 percent and $150,000 in principal forgiveness that will not have to be repaid. 

Any local government interested in the SRF Loans should contact the State Revolving Fund Loan Program, Tennessee Tower, 12th floor, 312 Rosa L. Parks Ave., Nashville, TN 37243, or call (615) 532-0445. Additional information may be found online at https://www.tn.gov/environment/program-areas/wr-water-resources/water-quality/state-revolving-fund-program.html.


Chattanooga Chamber Calendar Of Events For March 26-29

Tennessee's Unemployment Rate Hits Record Low In February

Junk King Chattanooga Welcomes New Ownership


March 26, East Brainerd Chamber Council Meeting 11:30 a.m. to 1 p.m. The Chattanooga Event Center: 2193 Park Dr. Speaker: Steven Wagner, Erlanger Health System Foundation $12 ... (click for more)

The statewide unemployment rate in Tennessee dropped to a new historic low in February according to data released Thursday by the Tennessee Department of Labor and Workforce Development (TDLWD). ... (click for more)

Junk King, the nation’s leading junk removal company, announced the Chattanooga location has new ownership with local resident Tiffany Bryant. Pursuing her vision of entrepreneurship, Mrs. ... (click for more)


Business

Chattanooga Chamber Calendar Of Events For March 26-29

March 26, East Brainerd Chamber Council Meeting 11:30 a.m. to 1 p.m. The Chattanooga Event Center: 2193 Park Dr. Speaker: Steven Wagner, Erlanger Health System Foundation $12 March 26, LCAA PM Regathering 4:30 to 6:30 p.m. Virgola: 608 Georgia Ave. Leadership Chattanooga graduates and guests are invited to stop by for networking and to catch up with LC ... (click for more)

Tennessee's Unemployment Rate Hits Record Low In February

The statewide unemployment rate in Tennessee dropped to a new historic low in February according to data released Thursday by the Tennessee Department of Labor and Workforce Development (TDLWD). The seasonally adjusted rate of 3.2 percent is 0.1 of a percentage point lower than the previous historic low. Tennessee reached its previous record low unemployment rate of 3.3 percent ... (click for more)

Breaking News

Worker At Western Sizzlin Restaurant At Ooltewah Diagnosed With Acute Hepatitis A; Persons Who Ate There March 10-20 Urged To Get Vaccine

Chattanooga-Hamilton County Health Department officials confirmed Friday that an employee working at the Western Sizzlin Restaurant, 6021 Relocation Way, Ooltewah, has been diagnosed with acute hepatitis A. The restaurant employee worked at the restaurant while contagious March 10-20. Persons who ate at this restaurant during these dates should get vaccinated with the hepatitis ... (click for more)

Bankston Favors Sewage Consolidation; Eyes Sewage Plant In East Ridge; Boyd Says Ooltewah Residents To Go Back To "Chamber Pots And Outhouses"

County Commissioner Chester Bankston said consolidation of the city and county sewer programs "is the number one answer for our sewage problems." "It's the best answer for our taxpayers and ratepayers," said the commissioner who serves on a committee of Ooltewah area residents looking into the sewage issue. The panel is set to give its recommendations to officials of the Hamilton ... (click for more)

Opinion

Growth Can Continue At Ooltewah On Septic Tanks

I want to set the record straight about growth in North Hamilton County. On Feb. 21, 2019, County Mayor Coppinger called a “reset” meeting with the residents of Ooltewah/Harrison over the proposed sewer plant in North Hamilton County. In front of this community, I stood up and specifically asked the county mayor if growth could continue in Ooltewah and Harrison on septic tanks ... (click for more)

Our Roads Need To Be Repaired For Ironman - And Response

Chattanooga being a finalist for the 2021 Ironman is great news. The business gained at the local bicycle repair shops from bent rims, busted tires and warped frames should produce some great local revenue. The local physicians should see a surge as well from the twisted ankles and busted up knees from dips, humps and pot holes on our area roads that could swallow a small child. ... (click for more)