DEQ awards $29.2 million low-interest wastewater construction loan to the city of Lewiston
Tuesday, November 26, 2019
BOISE — The Idaho Department of Environmental Quality (DEQ) today announced the award of a $29.2 million low-interest wastewater construction loan to the city of Lewiston in Nez Perce County.
The funding will be used to extend the collection system, make improvements to treatment methodology, and replace worn-out system elements. Additionally, the project will sponsor the Lewiston 2020 Septic Conversion Project, which will transition some residents from reliance upon septic systems to centralized treatment.
The loan from DEQ’s State Revolving Loan Fund, which is capitalized annually by grants from the Environmental Protection Agency, carries a simple 1.2605% interest rate and is payable over 15 years. The favorable loan terms represent about a $3,723,000 savings to the community when compared to average costs for municipal general obligation debt issuance.