DEQ awards $9 million low-interest wastewater construction loan to city of Gooding
Thursday, May 31, 2018
BOISE — The Idaho Department of Environmental Quality (DEQ) today announced the award of a $9 million low-interest wastewater construction loan to the city of Gooding in Gooding County.
The funding will be used to replace headworks and improve treatment process by adding filtration, chemical treatment, and sludge drying beds.
DEQ is authorized by state law to make loans to assist in the construction of public wastewater systems
The loan from DEQ’s State Revolving Loan Fund, which is capitalized annually by grants from the Environmental Protection Agency, carries a simple 1.75% interest rate, is payable over 30 years. The favorable loan terms represent a $3,871,228 savings to the community when compared to average costs for municipal general obligation debt issuances.