March 14, 2022
Contact: MaryAnna Peavey, Grants and Loans Bureau Chief, MaryAnna.Peavey@deq.idaho.gov
BOISE — The Idaho Department of Environmental Quality (DEQ) today announced the award of $300,000 in drinking water construction assistance to Oden View Estates Improvement Association, Inc. in Bonner County, Idaho.
The funding will be used to develop an additional water source.
The assistance from DEQ’s State Revolving Fund, which is capitalized annually by grants from the US Environmental Protection Agency, carries a simple 1.5% interest rate, is payable over 30 years, and has $273,290 in principal forgiveness. The favorable loan terms represent a $396,654 savings to the community when compared to average costs for municipal general obligation issuances.