On October 25, Tennessee Governor Bill Lee and Tennessee Department of Environment and Conservation (TDEC) Commissioner David Salyers announced a $30 million low-interest loan for wastewater infrastructure improvements for Chattanooga. Chattanooga was awarded a Clean Water State Revolving Fund loan as part of the city’s efforts to improve the wastewater collection system. The city will construct three 10 million gallon equalization basins designed to hold back large volumes of wastewater generated during large storm events. This helps the city prevent overflows from the treatment plant entering into streams during periods of high rainfall.
The loan, which has a 20-year term with a 1.17 percent interest rate, will complement existing efforts to improve critical infrastructure and protect human health, safety, and water quality. “Water and wastewater infrastructure is a critical need for communities”, Salyers said. “The low-cost program is an excellent financial tool for helping ensure our water resources are preserved for future generations.”
This fiscal year, TDEC has awarded $85,000 in drinking water loans and $33 million in clean water loans to meet the state’s infrastructure needs.
For more information, visit here.
