GEFA Board of Directors Approves $9.4 Million in Loans to Finance Water and Sewer Infrastructure Improvements
Tuesday, January 27, 2009 |
Contact: Office of Communications 404-651-7774, Shane Hix, GEFA (404) 584-1043 / (404) 713-7850
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“Infrastructure improvements increase the quality of life for
“GEFA’s programs are a tangible commitment by Governor Perdue and the General Assembly to assist local governments across the state with their efforts to provide clean water, sewer and solid waste improvements,” said Chris Clark. “In addition to the public’s health and safety, these projects are critical to a community’s ability to prosper economically.”
Clark expressed appreciation to Governor Perdue and the Georgia General Assembly for their support. He credited Governor Perdue’s commitment to helping
“The projects that we agreed to finance today illustrate how GEFA helps communities of all sizes, in all areas of the state,” said Matt Beasley, chairman of the GEFA board of directors and mayor of the city of
GEFA helps communities prepare for economic growth and development through the provision of low interest loans and grants. The Georgia Fund is a state funded loan program administered by GEFA for water, wastewater and solid waste infrastructure projects. The loan program has maximum flexibility and accessibility, providing fast loan approvals. The Georgia Fund finances loans to local government for projects such as water and sewer lines, treatment plants, pumping stations, wells, water storage tanks and water meters. Low interest loans from this program range from $20,000 to $50 million.
The CWSRF is a federal loan program administered by GEFA for wastewater infrastructure projects. Eligible projects include a wide variety of wastewater collection and treatment project and storm water projects.
Details of the loans approved today are below:
The Madison County Industrial Development and Building Authority (IDBA) was approved for a Georgia Fund loan of $1,611,000 to construct a wastewater treatment and disposal system serving commercial development along the US 29 corridor. The project includes collection lines, a lift station and a six-inch force main. The Madison County IDBA will pay a 4.27 percent interest rate on the 20-year loan.
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Cities and counties interested in more information regarding GEFA loans should visit www.gefa.org or call (404) 584-1000.
The Georgia Environmental Facilities Authority (GEFA) provides financial assistance and administers programs that encourage stewardship of the environment and promote economic development statewide. GEFA is the lead state agency for energy planning and alternative fuels; manages Conserve Georgia, the Governor’s Energy Challenge and the Georgia Land Conservation Program; maintains state-owned fuel storage tanks; and offers financing for reservoir and water supply, water quality, storm water and solid waste infrastructure.
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