DEQ awards $4.3 million to the city of Moscow, Latah County
Wednesday, February 19, 2020
BOISE — The Idaho Department of Environmental Quality (DEQ) today announced the award of a $4.3 million low-interest drinking water construction loan to the city of Moscow in Latah County.
The funding will be used for phase 2 of the design, development, and construction of a well, transmission main, and replacement of existing booster pumps stations and water lines.
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 2.25% interest rate and is payable over 20 years. The favorable loan terms represent a $147,390 savings to the community when compared to average costs for municipal general obligation debt issuances.