BOISE – The Idaho Department of Environmental Quality (DEQ) announced the award of a $350,000 low-interest drinking water construction loan to the Strawberry Mink Creek Water Association in Franklin County, Idaho.
The funding will be used to redevelop the spring area, replace transmission lines, repair the main line, construct a bypass line, and add chemical spill containment.
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 United States Environmental Protection Agency, carries a simple 2% interest rate and is payable over 30 years. The favorable loan terms represent a $252,398 savings to the community when compared to average costs for municipal general obligation debt issuances.