Exceptionally Low Interest Rates Available for Drinking Water and Wastewater Projects
April 18, 2012 – The Nebraska Department of Environmental Quality has announced a reduction in the interest rates available to communities to obtain low-interest loans for drinking water and wastewater treatment projects. Interest rates have been reduced in both the Nebraska Clean Water (wastewater) State Revolving Loan Fund (SRF) and the Nebraska Drinking Water SRF.
In both programs, the interest rate total, including administrative fees, has been reduced from 3.5% to 3.0%. Rates are even lower for projects that are considered green infrastructure* projects, reduced from 3.0% to 2.75%.
“These are historically low market rates,” said NDEQ Director Mike Linder. “For communities that need to improve their drinking water or wastewater systems, this is an ideal time to develop plans and apply for an SRF loan.”
The two SRF programs, which receive annual EPA capitalization grants, provide low-interest loans and small community matching grants to municipalities for the construction of wastewater treatment facilities and sanitary sewer collection systems, and for drinking water projects. These are “revolving” loan programs; that is, loan principal repayments go into new loans. Since its inception, the Clean Water program has provided 225 loans, totaling $421 million. The Drinking Water program has provided 168 loans, totaling $200 million.
For more information, go to NDEQ’s web site at www.deq.ne.gov, select “Programs” and then select “Clean Water State Revolving Loan Fund.” Or, the direct link is: http://deq.ne.gov/NDEQProg.nsf/OnWeb/CWSRLF
* Green infrastructure projects include water or energy savings, or efficiency measures, stormwater management considered green, or other innovative concepts to save water or energy.