The city of Fayetteville was awarded a $1,465,000 Clean Water State Revolving Fund (CWSRF) loan by the Georgia Environmental Finance Authority (GEFA) board of directors.
The loan will finance rehabilitating existing stormwater infrastructure and drainage facilities. The project will restore functioning in portions of the city’s drainage infrastructure, reducing flooding threats in the city. Fayetteville will pay 2.03 percent interest on the 20-year loan.
“The federal water and sewer programs administered by GEFA assist local governments with improving their environmental infrastructure .Through the Clean Water program, affordable financing helps cities and counties improve water quality,” said GEFA executive director Kevin Clark.
“I’d like to express appreciation to Gov. Deal, state Sens. Marty Harbin and Valencia Seay, and state Reps. Virgil Fludd, Ronnie Mabra, Matt Ramsey, and John P. Yates, for their support. The state’s commitment to helping cities and counties finance infrastructure development is a main contributor to GEFA’s success.”
The CWSRF, a federal loan program administered by GEFA, provides communities throughout Georgia with low-interest loans to fund wastewater infrastructure and water pollution control projects. Eligible projects include a variety of stormwater and wastewater collection and treatment projects. These projects conserve and improve water resources, and facilitate economic growth and development. Low-interest loans from this program are available up to $25 million.
For more information about the Georgia Environmental Finance Authority, visit www.gefa.org.
