Three cities share in $48.6M in clean water loans

The Tennessee Department of Environment and Conservation and the Tennessee Local Development Authority have approved four loans for water infrastructure totaling $48.6 million for three municipalities.  

The city of Springfield has been awarded two loans from the Clean Water State Revolving Fund. One is for $37 million, another for $10 million, both going toward a new wastewater treatment plant. The $10-million loan comes with $5 million in principal forgiveness. Each has a 20-year term at 2.49% interest. 

The Erwin Utilities Authority received a $1.35 million loan from the Drinking Water State Revolving Fund Loan Program. It will address waterline extensions. The loan has a 20-year term at 1.24 percent interest. The Erwin Utilities Authority received $677,000 in principal forgiveness with the remainder of the loan amount to be paid back as principal. 

Northwest Dyersburg Utility District received a $332,173 loan from the Drinking Water State Revolving Fund Loan Program. It will address water treatment plant improvements. The loan has a 20-year term at 1.87 percent interest. The Northwest Dyersburg Utility District received $166,086 in principal forgiveness with the remainder of the loan amount to be paid back as principal.  

This fiscal year, TDEC has awarded $8,806,173 in drinking water loans and $47 million in clean water loans to meet the state’s infrastructure needs. During fiscal year 2024, TDEC awarded $54,108,182 in drinking water loans and $85,350,843 in clean water loans for a total of $139,459,025.