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.[Read more…]