The Illinois Environmental Protection Agency (EPA) has issued more than $29 million in water infrastructure loans to seven local governments and sanitary districts. Among them are two Fehr Graham clients, the Village of Tilton and the Village of Loda.
The low-interest loans are through the Illinois EPA's State Revolving Fund program, which provides funding for water infrastructure projects. Projects funded in 2022 receive an interest rate of 1.11%.
The Village of Tilton in Vermilion County will modify and construct sanitary sewer and lift stations and make improvements and upgrades to the Tilton Water Treatment Plant. The project will help Tilton meet all requirements in their National Pollutant Discharge Elimination System (NPDES) permit. The loan amount for the project is $8.6 million, and the principal forgiveness loan is for $2.5 million. Fehr Graham helped with design improvements and loan applications to maximize principal forgiveness.
"Every community in Illinois should be equipped with clean drinking water as well as functional wastewater infrastructure to protect homes and businesses from flooding. Thanks to the Rebuild Illinois capital plan, millions of dollars are being invested in communities across the state to make that goal a reality," said Gov. J.B. Pritzker in a news release. "This round of $29 million in grants will provide funding for significant infrastructure improvements to communities, providing necessary upgrades that will improve the health and safety of residents."
The Village of Loda in Iroquois County will construct a 70,000-gallon groundwater storage tank and associated pumps, chlorine feed system controls and appurtenances at the plant. The upgrades will increase system reliability for residents, visitors and businesses. The loan amount for the project is $1 million, and the principal forgiveness loan is $400,000. Fehr Graham helped the Village continue to supply safe drinking water by securing a grant for $550,000 through the Department of Commerce and Economic Opportunity (DCEO) Community Development Blog Grant (CDBG). Fehr Graham also helped the Village secure a water loan through the Illinois Environmental Protection Agency.
"The Illinois EPA State Revolving Fund continues to provide essential funding to allow communities to address aging and deteriorating wastewater and drinking water infrastructure," said Director John Kim in a news release. "The low-interest loans not only provide significant cost savings to the recipients, but also provide additional relief through principal forgiveness to eligible small systems and disadvantaged communities."
Illinois EPA's State Revolving Fund programs receive federal funding annually, which is combined with state matching funds, interest earnings, repayment money and the sale of bonds, to form the source of financing for infrastructure projects. The state matching funds for FY2020-2024 are provided through Gov. Pritzker's bipartisan Rebuild Illinois Capital Plan.
Visit this site for more information about Illinois EPA's State Revolving Fund.