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 a $2,813,745 low-interest wastewater construction loan to the Payette Lakes Recreational Water and Sewer District in Valley County, Idaho.

The funding will be used for phase two of the district’s wastewater project, replacing the recycled water storage pond liner.

The loan carries a simple 2.75% interest rate, is payable over 20 years, and is from DEQ’s State Revolving Loan Fund, which is capitalized annually by grants from the United States Environmental Protection Agency. The favorable loan terms represent a $1,193,957 savings to the community when compared to average costs for municipal general obligation debt issuances.