Revolving Fund Loan Commitments Announced
April 2, 2010
The Department of Natural Resources and Environment announced four new loan commitments today from the revolving fund programs to aid Michigan communities making needed infrastructure improvements.
The Clean Water State Revolving Fund (CWSRF) and Strategic Water Quality Initiatives Fund (SWQIF) provide low-interest financing for local units of government to make needed improvements to wastewater collection and treatment facilities, while assistance from the Drinking Water Revolving Fund (DWRF) finances improvements to public drinking water systems. The loans announced today total $9,420,000.
With loan interest rates well below those otherwise available in the open market, funding infrastructure projects through the DNRE's programs allows communities to pass the savings along to users of their water and wastewater systems.
The City of Ann Arbor will receive $1,320,000 and the City of Westland will receive $2,870,000 from the SWQIF program to finance footing drain disconnection programs in order to prevent sanitary sewer overflows and basement back ups.
The DWRF will fund a $3,040,000 project in Howell to replace older water pipes to ensure the integrity of the distribution system, as well as a $2,190,000 project in Grosse Pointe Woods for the installation of a new water tower. These projects will help ensure compliance with the requirements of the federal Safe Drinking Water Act and protect the public health of system users. Since the inception of Michigan's DWRF program in 1998, over $640 million in assistance has been tendered.
The DNRE is committed to conserve, manage, protect, and promote accessible use and enjoyment of the state's environmental, natural resource, and related economic interests for current and future generations.