DES MOINES —
The Iowa Finance Authority recently awarded a combined total of more than $30 million in water quality loans to assist projects through out the state including Moulton and Ottumwa.
State Revolving Fund Construction Loans are now offered at an historic low interest rate of 1.75 percent for most loans, which provide communities and municipalities with much needed financing for construction costs of water quality projects. Planning & Design Loans are zero percent loans that assist communities and municipalities with first-phase project expenses. The Iowa Finance Authority and the Iowa Department of Natural Resources jointly administer the State Revolving Fund.
The city of Moulton received $82,225 for clean water planning and design; and Ottumwa Water and Hydro received $1,250,000 for drinking water construction.
The Iowa Finance Authority has awarded Iowa communities and municipalities more than $1.9 billion in construction loans and $120 million through planning and design loans since program inception. The loans are made available as part of the State Revolving Fund.