(INDIANAPOLIS) – The City of Evansville closed a low-interest loan, in the amount of $75,000,000, through the Indiana Finance Authority’s Clean Water State Revolving Fund (SRF) Loan Program to finance improvements to the City’s wastewater treatment systems.
By utilizing the SRF Loan Program instead of securing a traditional loan, Evansville will save approximately $9,500,000 dollars in interest costs over the life of the loan.
The SRF Loan Program is administered by the Indiana Finance Authority with joint funding from the U.S. Environmental Protection Agency and the State of Indiana. The City’s project will increase capacity at the East Wastewater Treatment Plant, and complete improvements at the East Wastewater Treatment Effluent Pump Station. The project will allow the City of Evansville to meet the requirements of a consent decree with the US Environmental Protection Agency and implement an Integrated Overflow Control Plan that will further protect water quality and public health for the residents and businesses in the service area.
SRF Loan Programs operate in all States to provide the resources necessary to maintain and improve the infrastructure that protects valuable water resources.