DEQ awards $11.3 million low-interest wastewater construction loan to the city of Blackfoot
Friday, June 02, 2017
BOISE — The Idaho Department of Environmental Quality (DEQ) today announced the award of a $11,248,570 low-interest wastewater construction loan to the city of Blackfoot in Bingham County.
The funding will be used to repair and replace part of the collection system and make treatment system improvements that include aeration, clarification, digestion, disinfection, conveyance, and preliminary treatment, and a new sewer intercept line.
The loan from DEQ’s State Revolving Loan Fund, which is capitalized annually by grants from the Environmental Protection Agency, carries a simple 2.75% interest rate, is payable over 20 years. The favorable loan terms represent about a $2,745,000 savings to the community when compared to average costs for municipal general obligation debt issuances.