Tennessee Governor Bill Haslam and Department of Environment and Conservation Commissioner Bob Martineau announced that eight communities have been approved to receive more than $63.6 million in low-interest loans for water and wastewater infrastructure improvements.

CIA assisted one of the communities, the City of Murfreesboro, with its successful application for two State Revolving Fund (SRF) Loan Program loans.

The SRF Loan Program provides low-interest loans that help communities, utility districts, and water and wastewater authorities finance projects that protect Tennessee’s ground and surface waters and public health. Loans are used to finance the planning, design and construction of water and wastewater facilities. Through the SRF Program, communities, utility districts, and water and wastewater authorities can obtain loans with lower interest rates than most can obtain through private financing.

The City of Murfreesboro received a total of $36,500,000 via two SRF loans ($4M and $32.5M) for the Sinking Creek Wastewater Treatment Plant Expansion from 16.0 MGD to 20.0 MGD.  Both loans have 20-year terms with 1.30 percent fixed interest rates. The $4M loan is funded from the 2012 Capitalization Grant, and the $32.5M loan is funded with re-payment (revolving) dollars from other SRF loans.

CIA congratulates the City of Murfreesboro and the other communities on their awards.