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Last updated on Wednesday, March 16, 2016
(BROWN CO.) - The Brown County Water Utility closed a low-interest loan, in the amount of $8,113,000, through the Indiana Finance Authority’s Drinking Water State Revolving Fund (DWSRF) Loan Program to finance needed improvements to its drinking water utility.
By utilizing the SRF Loan Program instead of securing a traditional loan, the Brown County Water Utility will save an estimated $1,750,000 of interest expense over the life of the loan.
Construction of upgrades and improvements to the Brown County Water Utility distribution system were financed by the DWSRF. The DWSRF program is administered by the Indiana Finance Authority with joint funding from the U.S. Environmental Protection Agency and Indiana.
The Brown County Drinking Water System Improvements Project includes water transmission main improvements, water main replacement, residential water meter replacement with automated meter reading capabilities, replacement of Carmel and Lanan Ridge water storage tanks, Knob Hill Booster Station replacement, valve and hydrant replacement, water service line replacement main to meter, and Cottonwood pressure zone isolation. The project should provide public health benefits by replacing aged components, and providing safe and reliable drinking water supply to community residents and businesses in the Brown County Water Utility service area.
DWSRF programs operate around the country to provide states and communities the resources necessary to maintain and improve the infrastructure that protects our valuable water resources nationwide.
Communities can get more information about obtaining an SRF loan by contacting Bill Harkins at (317) 234-4862, wharkins@ifa.in.gov, or by visiting www.srf.in.gov.
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