DEQ awards $395,000 drinking water loan to Kootenai County Water District #1, Kootenai County
Thursday, July 12, 2018
BOISE — The Idaho Department of Environmental Quality (DEQ) today announced the award of a $395,000 low-interest drinking water construction loan to the Kootenai County Water District #1, Kootenai County.
The funding will be used to complete a facility plan with an environmental review and repair or place existing pipes, pumps, and water meters.
DEQ is authorized by state law to make loans to assist in the construction of public drinking water systems.
The loan from DEQ’s State Revolving Loan Fund, which is capitalized annually by grants from the Environmental Protection Agency, carries a simple 2.75% interest rate, is payable over 20 years. The favorable loan terms represent a $54,842 savings to the community when compared to average costs for municipal general obligation debt issuances.