Lyerly, Georgia, was awarded a $130,000 Clean Water State Revolving Fund (CWSRF) loan by the Georgia Environmental Finance Authority (GEFA) board of directors.
The loan will finance improvements to the wastewater treatment plant equipment and the construction of a new equipment building. The equipment at the town’s wastewater treatment plant has reached the end of its useful life.
This project will improve efficiency and reduce operational and maintenance costs while improving wastewater treatment. The town will pay 1.56 percent interest on the 15-year loan. The loan will finance a conservation project, which qualifies for a reduced interest rate.
“I’d like to express appreciation to Gov. Deal, U.S. Sen. Johnny Isakson, U.S. Sen. David Perdue, U.S. Rep. Tom Graves, state Sen. Chuck Hufstetler, and state Rep. Eddie Lumsden for their support. The state’s commitment to helping cities and counties finance infrastructure development is a main contributor to GEFA’s success.” – GEFA Executive Director Kevin Clark.
The CWSRF, a federal loan program administered by GEFA, provides communities throughout Georgia with low-interest loans to fund wastewater infrastructure and water pollution control projects. The program is jointly funded by the U.S. Environmental Protection Agency and the state of Georgia.
Eligible projects include a variety of stormwater and wastewater collection and treatment projects. These projects conserve and improve water resources and facilitate economic growth and development. Low-interest loans from this program are available up to $25 million.