July 8, 2021
BOISE — The Idaho Department of Environmental Quality (DEQ) today announced the award of a $4.3 million low-interest wastewater construction loan to the city of Juliaetta in Latah County.
The funding will be used to rehabilitate and replace the lift station and install new equipment, including headworks, aeration and secondary clarifiers, dewatering equipment, temperature and flow monitoring controls, backup generator, composite samplers, and temperature treatment.
DEQ is authorized by state law to make loans to assist in the construction of public wastewater systems. Since the annual cost of wastewater service for residential customers exceeds 1.5% of the median household income, the city qualifies for a disadvantaged loan, which carries favorable repayment terms.
The loan from DEQ’s State Revolving Loan Fund, which is capitalized annually by grants from the US Environmental Protection Agency, carries a simple 1.75% interest rate, is payable over 30 years, and has a 542,491 principal forgiveness. The favorable loan terms represent a $1,020,365 savings to the community when compared to average costs for municipal general obligation debt issuances.
Grants & Loans Bureau Chief