Fairfield Ledger
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Neighbors Growing Together | Jul 31, 2014
NEWS BRIEF

State Revolving Fund awards low-interest loan to Fairfield

Jan 11, 2013

State Revolving Fund awards low-interest loan to Fairfield

 

DES MOINES — The Iowa Finance Authority recently awarded a combined total of more than $92 million in water quality loans to assist projects in 18 counties.

The city of Fairfield received $600,000 for clean-water construction.

State Revolving Fund Construction Loans are the lowest-cost construction financing option available for Iowa city’s and municipalities for water quality initiatives. Planning & Design Loans are 0 percent loans that assist with the first-phase project expenses. The Iowa Finance Authority and the Iowa Department of Natural Resources jointly administer the State Revolving Fund.

“The State Revolving Fund has provided more than 500 Iowa communities with more than $2 billion in affordable financing to support quality water for thousands of Iowans,” said Iowa Finance Authority Executive Director Dave Jamison. “Congratulations to the most recent communities that will benefit from this unique, low-cost financing.”

“The 27 water quality projects that have been awarded low-interest funding from the State Revolving Fund will provide improved water quality to the streams and waterways of Iowa and are vital to the consumption needs of its citizens,” said Iowa Department of Natural Resources Director Chuck Gipp.

For more information on State Revolving Fund programs, visit www.IowaSRF.com.

The Iowa Legislature created The Iowa Finance Authority, the state’s housing finance agency, in 1975 to undertake programs to assist in the attainment of low- and moderate-income Iowans. The Iowa Finance Authority administers the State Revolving Fund in cooperation with the Iowa Department of Natural Resources. The State Revolving Fund assists communities with the costs of upgrading or constructing local wastewater and drinking water infrastructure projects.

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