April 16, 2024
Contact: MaryAnna Peavey, Grants and Loans Bureau Chief, MaryAnna.Peavey@deq.idaho.gov
BOISE — The Idaho Department of Environmental Quality (DEQ) today announced the award of a $2,584,336 low-interest drinking water construction loan to the city of Homedale in Owyhee County.
The funding will be used to install a new well and well pump, rehabilitate the water storage tank, and replace service lines and water mains.
The loan from DEQ’s State Revolving Loan Fund, which is capitalized annually by grants from the United States Environmental Protection Agency, carries a simple 2.50% interest rate, and is payable over 20 years. The favorable loan terms represent a $300,564.61 in savings to the community when compared to average costs for municipal general obligation debt issuances.