• About
    • About Us
    • What We Cover
  • Advertise
    • Advertise
    • Our Advertisers
  • Contact
  • Donate
  • Send News
  • Subscribe

Oak Ridge Today

  • Home
  • Sign in
  • News
    • Business
    • Community
    • Education
    • Government
    • Health
    • Police and Fire
    • U.S. Department of Energy
    • Weather
  • Sports
    • High School
    • Middle School
    • Recreation
    • Rowing
    • Youth
  • Entertainment
    • Arts
    • Dancing
    • Movies
    • Music
    • Television
    • Theater
  • Premium Content
  • Obituaries
  • Classifieds

State approves city’s application for $18 million in low-interest loans for sewer repairs

Posted at 6:09 pm June 27, 2013
By John Huotari Leave a Comment

In February, the Oak Ridge City Council approved the borrowing of $18 million in low-interest state loans to help pay for a $23 million project to fix the municipal sewer system.

On Wednesday, Tennessee officials announced that the loans had been approved.

Eleven communities have been approved to receive more than $203 million in low-interest loans for water and wastewater infrastructure improvements. It’s the largest amount in State Revolving Fund Loans granted in state history, Tennessee Gov. Bill Haslam and Department of Environment and Conservation Commissioner Bob Martineau said in a press release.

The State Revolving Fund Loan Program provides low-interest loans that help communities, utility districts, and water and wastewater authorities finance projects that protect Tennessee’s ground and surface waters and public health, the press release said. Loans are used to finance the planning, design and construction of water and wastewater facilities.

Oak Ridge was one of four communities that received a wastewater loan and one of six to receive a traditional wastewater loan. The city will receive a total of $18 million in two 20-year loans with interest rates of 1.15 percent and $400,000 in principal forgiveness that will not have to be repaid.

The money is for sewer system rehabilitation and construction of three equalization basins. The work is being done to comply with a U.S. Environmental Protection Agency order that requires Oak Ridge to repair all sewer system overflows by Sept. 28, 2015.

State officials also announced drinking water and traditional drinking water loans to other communities on Wednesday.

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.

The Department of Environment and Conservation administers the SRF Loan Program for the state of Tennessee 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 Loan 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.

Since its inception in 1987, Tennessee’s Clean Water State Revolving Fund Loan Program has awarded nearly $1.5 billion in low-interest loans. Since its inception in 1996, Tennessee’s Drinking Water State Revolving Fund Loan Program has awarded more than $216 million in low-interest loans. Both programs combined award more than $80 million annually to Tennessee’s local governments for water and wastewater infrastructure projects.

More information is available here.

Filed Under: Government, Oak Ridge, State, Top Stories Tagged With: Bill Haslam, Bob Martineau, Department of Environment and Conservation, equalization basins, infrastructure improvements, low-interest state loans, Oak Ridge City Council, sewer repairs, sewer system, sewer system rehabilitation, SRF Program, State Revolving Fund Loans, traditional wastewater loan, wastewater, wastewater loan, water

Advertisements


 

Join the club!

If you appreciate our work, please consider subscribing. Besides helping us, your subscription will give you access to our premium content.

Most of our stories are free, brought to you by Oak Ridge Today with help from our members—advertisers, subscribers, and sponsors.

But some are premium content, available only to members. Those are in-depth, investigative, or exclusive stories that are available only on Oak Ridge Today. They generally require at least four hours to report, write, and publish.

You can subscribe for as little as $5 per month.

You can read more about your options here.

We currently offer five primary subscription options to readers, and they include benefits.

Basic

  • Basic monthly subscription ($5 per month)—access premium content
  • Basic annual subscription ($60 per year)—access premium content

Pro

  • Pro monthly subscription ($10 per month)—access premium content, get breaking news emails first, and submit one press release or public service announcement per month
  • Pro annual subscription ($100 per year)—save $20 per year, access premium content, get breaking news emails first, and submit one press release or public service announcement per month

Temporary

  • Temporary access ($3 per week for two weeks)

We also have advanced subscription options. You can see them here.

We also accept donations. You can donate here.

If you prefer to send a check for a subscription or donation, you may do so by mailing one to:

Oak Ridge Today
P.O. Box 6064
Oak Ridge, TN 37831

Thank you for your consideration and for reading Oak Ridge Today. We appreciate your support.

Commenting Guidelines

We welcome comments, but we ask you to follow a few guidelines:

1) Please use your real name, including last name. Please also use a valid e-mail address.
2) Be civil. Don't insult others, attack their character, or get personal.
3) Stick to the issues.
4) No profanity.
5) Keep your comments to a reasonable length and to a reasonable number per article.

We reserve the right to remove any comments that violate these guidelines. Comments held for review, usually from those posting for the first time, may not post if they violate these guidelines. Thank you for your patience and understanding. Thank you also for reading Oak Ridge Today and for participating in the discussion.

More information is available here.

More Government News

Luminarias to feature peace messages

Luminarias with peace messages will be lit this year to remember and acknowledge the atomic bombings of Japan in August 1945, the Manhattan Project National Historical Park said. A luminaria is a lantern with a candle … [Read More...]

Repairs set for S. Illinois Ave. this week

The City of Oak Ridge Public Works Department will be making asphalt repairs to South Illinois Avenue this week, weather permitting, a press release said. The work will be in the northbound lanes across from Badger … [Read More...]

City of Oak Ridge Seal

Horizon Center power, airport update, mercury storage on Council agenda

An airport update, potential comments about mercury storage, and an overview of a proposed 69-kilovolt electrical line for the TRISO-X project at Horizon Center are on the agenda for an Oak Ridge City Council work … [Read More...]

Planning Commission to consider rezoning for nuclear fuel fabrication

The Oak Ridge Municipal Planning Commission on Thursday will consider rezoning 110 acres at Horizon Center for a nuclear fuel fabrication company. The property (Lot 6a) has been purchased from the Oak Ridge Industrial … [Read More...]

Repairs planned for gravel section of Tuskegee Road

The Oak Ridge Public Works Department will conduct road repairs to the gravel section of Tuskegee Road from Tuesday, July 19 to Friday, July 22, weather permitting, a press release said. The work will require sections … [Read More...]

More Government

Recent Posts

  • ORAU launches new app with a variety of resources available, including hundreds of STEM internships, fellowships and research opportunities
  • Disposing of uranium waste could cost at least $7.2 billion
  • Y-12 now getting power from Pine Ridge substation
  • Man sentenced to 8 years after fleeing, crashing, attempting carjackings
  • Three Ohio residents die in two-vehicle crash
  • DOE picks Idaho for nuclear test reactor
  • TBI investigating man’s death
  • Luminarias to feature peace messages
  • Oak Ridge tennis court dance is Thursday
  • DOE bus tours restart in Oak Ridge

Search Oak Ridge Today

About Us

About Oak Ridge Today
What We Cover

How To

Advertise
Subscribe

Contact Us

Contact Oak Ridge Today

Copyright © 2022 Oak Ridge Today