DEQ awards $24.1 million low-interest wastewater construction loan to city of Post Falls, Kootenai County
Tuesday, January 30, 2018
BOISE — The Idaho Department of Environmental Quality (DEQ) today announced the award of a $24.1 million low-interest wastewater construction loan to the city of Post Falls in Kootenai County.
The funding will be used to install a tertiary membrane filtration system; add an oxidation ditch, clarifier, and biological nutrient removal selector; update the current ultraviolet system; and upgrade support facilities.
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 2.75% interest rate and is payable over 20 years. The favorable loan terms represent a $5 million savings to the community when compared to average costs for municipal general obligation debt issuances.