DES MOINES —
Nineteen Iowa cities were recently awarded a combined total of more than $20.8 million in low-cost water quality loans through the State Revolving Fund. State Revolving Fund Construction Loans are the lowest-cost construction financing option available for Iowa cities and municipalities for water quality initiatives. Planning & Design Loans are zero percent loans that assist with the first-phase project expenses. The Iowa Finance Authority and the Iowa Department of Natural Resources jointly administer the State Revolving Fund.
“The unique partnership between the Iowa Finance Authority and the Iowa Department of Natural Resources has created a streamlined process for Iowa cities and municipalities to access affordable water quality financing,” said Iowa Finance Authority Executive Director Dave Jamison. “The nineteen cities that recently received low-cost loans are the newest additions to the growing list of more than 500 other communities that have benefited from the State Revolving Fund.”
The State Revolving Fund has awarded Iowa communities and municipalities more than $2 billion in construction loans and $121 million through planning and design loans since program inception. The loans are made available as part of the State Revolving Fund. For more information visit IowaSRF.com.
The Iowa Legislature created The Iowa Finance Authority, the state’s housing finance agency, in 1975 to undertake programs to assist in the attainment of low- and moderate-income Iowans. IFA also administers the State Revolving Fund in cooperation with the Iowa Department of Natural Resources. The SRF assists communities with the costs of upgrading or constructing local wastewater and drinking water infrastructure projects.
The 19 cities are Albion, Blakesburg, Centerville, Charlotte, Colesburg, Donnelson, Elk Horn, Fairbank, Farmington, Guttenberg, Humboldt, Ladora, Leland, Letts, Monona, Osceola, Toledo, Wall Lake and Wheatland to receive State Revolving Fund Loans to further water quality projects.