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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Oak Ridge receives $3 million state wastewater loan

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City of Oak Ridge Seal

Tennessee awards more than $8.2 million in low-interest water, wastewater construction loans

NASHVILLE—Tennessee Gov. Bill Haslam and Department of Environment and Conservation Commissioner Bob Martineau on Tuesday announced that one community and one utility district have been approved to receive more than $8.2 million in low-interest loans for water and wastewater infrastructure improvements.

Oak Ridge received a $3 million state wastewater loan.

“It’s great to see local governments using this important program to help address critical drinking water and wastewater needs,” Haslam said in a press release. “Making these infrastructure improvements will benefit the health of these communities and economic growth.” [Read more…]

City considers $18 million in state loans for sewer system repairs

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The Oak Ridge City Council tonight will consider applying for $18 million in two state loans to help repair all sewer system overflows by September 2015.

The two state loans are low-interest loans granted by the Tennessee Department of Environment and Conservation, and they can be used for engineering and construction costs. Oak Ridge has received two earlier loans, one in 1998 and 2002.

The sewer system project is expected to cost $23 million total. The project, which will start in east Oak Ridge and move west, will also be funded by a $2 million Tennessee Municipal Bond Fund Loan and about $3 million in future debt or an amendment of the state loans.

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