FORT GAINES — The city of Bronwood was awarded a $148,000 Drinking Water State Revolving Fund loan by the Georgia Environmental Finance Authority board of directors.
The loan will finance installing water main and valves. The city is experiencing excess water loss due to an aging and leaking water main. This project will reduce water loss and recapture lost revenue.
The city will pay 0.94% interest on the 20-year loan. The loan will finance a conservation project, which qualifies for a reduced interest rate. The city is eligible for principal forgiveness up to $66,600.
The DWSRF provides low-interest loans for infrastructure projects that deliver safe, affordable drinking water. These projects conserve and improve water resources and facilitate economic development. The program is jointly funded by the U.S. Environmental Protection Agency and the state of Georgia.
GEFA offers a reduced interest rate for energy efficiency and renewable energy projects at water and wastewater treatment plants, landfills and municipal solid waste facilities; water conservation projects in the areas of water loss and end-use water efficiency, and nonpoint source pollution control projects.
The Georgia Environmental Finance Authority, headquartered in Atlanta, provides financing for a variety of energy, land and water projects. Since 1985, GEFA has approved financial commitments totaling more than $4.5 billion to local governments, businesses and nonprofit organizations. For more information, visit gefa.georgia.gov, Twitter, Facebook, LinkedIn, YouTube or Flickr.