Valdosta Awarded $24 Million Loan for Water and Sewer Infrastructure

ATLANTA – As part of Governor Sonny Perdue’s vision for sustainable economic development, Georgia Environmental Facilities Authority (GEFA) Executive Director Chris Clark announced today the execution of a Georgia Fund loan of $24,097,000 for the city of Valdosta.  The loan, previously approved by the GEFA Board of Directors, will help finance the rehabilitation and expansion of water and sewer facilities in the city.

“Infrastructure improvements increase quality of life for Georgia citizens, and they help cities and counties create jobs and promote economic development,” said Governor Sonny Perdue.  “I’m pleased this investment is being made in water and sewer infrastructure.” 

“The Georgia Fund loan program is a tangible commitment by Governor Perdue and the General Assembly to assist local governments across the state with their efforts to provide clean water and sewer improvements,” said Chris Clark.  “In addition to the public’s health and safety, these projects are critical to communities across Georgia and to their ability to prosper economically.”

Clark expressed appreciation to Governor Perdue, state Senator Tim Golden and state Representatives Jay Shaw, Ellis Black and Amy Carter.  He credited Governor Perdue’s commitment to helping Georgia cities and counties finance infrastructure development as one of the main contributors to GEFA’s success.

GEFA helps communities prepare for economic growth and development by providing low interest loans and grants.  The city of Valdosta will pay 4.12 percent interest on the 20-year loan.  The total project cost is $26,747,700 with the city providing $2,650,700 from water and sewer revenues.

The Georgia Fund is a state funded program administered by GEFA for water, wastewater and solid waste infrastructure projects.  The program has maximum flexibility and accessibility, and offers fast loan and grant approvals.  The Georgia Fund provides loans and grants to local governments 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.

Cities and counties interested in more information regarding the Georgia Fund loan program should visit www.gefa.org or call (404) 584-1000.

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