Oak Ridge Today

State announces $500,000 loan for OS water system repairs

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Tennessee officials on Friday announced a $500,000 loan for water system repairs in Oliver Springs.

The loan was announced by Tennessee Governor Bill Lee and the Tennessee Department of Environment and Conservation Commissioner David Salyers. It’s a Clean Water State Revolving Fund, or SRF, planning and design loan. It’s meant to remediate water losses in the Oliver Springs water system in what is being described as a pilot project.

The loan consists of 100 percent principal forgiveness in the amount of $500,000 with a five-year term and a 0 percent interest rate, a press release said.

“We are pleased we can assist local communities with important infrastructure improvements,” Lee said in the press release. “This loan directly addresses a need and will improve quality of life.”

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TDEC announces $3.2 million drinking water loan for Oak Ridge

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Low-interest loan will go toward new water treatment plant 

Tennessee Governor Bill Lee and Tennessee Department of Environment and Conservation Commissioner David Salyers on Monday announced approximately $3.2 million in a low-interest loan for drinking water infrastructure improvements for the City of Oak Ridge.

“This loan will help Oak Ridge to meet one of the vital needs of its citizens,” Lee said in a press release. “I am pleased to support infrastructure upgrades that will help to provide safe and reliable drinking water for more Tennesseans.”

The City of Oak Ridge will receive a planning and design loan in the amount of $3,288,000 to develop plans and specifications for construction of a new 16-million-gallon-per-day water treatment plant, the press release said. The effort is funded from the State Revolving Fund Loan Program with a five-year repayment period and an interest rate of 1.08 percent.

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